A 69-year-old man was asked to go to a residential address to collect the loan, and was told to slip his NRIC under the door of the unit.
When he didn’t get any response despite repeatedly knocking on the door, he called the police.
As it turns out, the address belonged to a 54-year-old debtor who had defaulted on his loan repayments.
Using prospective borrowers to harass debtors who’ve defaulted on payments is a new tactic used by unlicensed moneylenders, say police.
Making cold calls from their ”call-centre’, they offered loans to ex-debtors. Once hooked, they get their runners to harass them to repay. See how the officers from the Unlicensed Moneylending Strikeforce (UMSF) worked on the case and crippled the Ah Long syndicate.
Watch the exclusive actual raid footage conducted by the Strikeforce.
Anyone with information regarding people involved in illegal moneylending activities can call the X-Ah-Long hotline at 1800-924-5664.
They can also call 999 for urgent police assistance.