Gamblers owe Ah Long RM30 million this year
FOR the first nine months of this year, Malaysians have borrowed a whopping RM30 million from illegal moneylenders — mostly used for illegal online gaming activities.That's $10 million USD.
“The Chinese make up the majority with 313, followed by 92 Malays and 39 Indians.”
Chong said the government should formulate a law which would also penalise the borrowers.
“These gamblers are loan defaulters and by not paying the loan, they place their family members in danger.
“Their wives, children and parents are actually the ones who become victims of the loan sharks.
Chong said this year, the bureau received four such cases and all the complainants confessed they decided to sell their organs after reading news reports from China and Hong Kong where people there were forced by loan sharks to clear off their debts.
1 comment:
Likely more common is high interest collateralized loans (i.e. pawning).
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