Selangor mortgage scams on the rise

PETALING JAYA: A complete of 51 mortgage rip-off circumstances have been recorded to this point this yr.

The pinnacle of Selangor’s Industrial Crime Investigation Division, Asst Comm Muhammad Yazid Muhammad Yew, mentioned the circumstances had been recorded between January 13 and 25, involving losses of RM617,758.

“This is a rise of 12.8% from the identical interval final yr, the place 41 circumstances had been recorded with losses amounting to RM 547,686,” he mentioned in a press release. Wednesday (January 27).

Selangor CCID additionally detained 14 individuals and managed to resolve 31 mortgage rip-off circumstances this yr, he added.

“The crooks would promote their ‘mortgage gives’ utilizing the names of assorted faux cash lender corporations on varied media to lure their victims.

“A few of the platforms embody Fb, WhatsApp, WeChat, different social media websites and textual content messages,” he mentioned.

ACP Muhammad Yazid mentioned a union member would then contact the sufferer to supposedly start the mortgage utility course of, he added.

“Varied monetary fees will probably be imposed, together with processing charges, stamp duties and cost for authorized providers.

“As soon as the funds are made, the sufferer will nonetheless not get their loans,” mentioned ACP Muhammad Yazid, who additionally suggested individuals to all the time watch out in the case of online loans.

“Due diligence ought to be carried out, together with checking with verified monetary establishments earlier than deciding to take loans from any social gathering.

“Individuals can even try CCID’s SEMAKMULE web site at for transactions involving financial institution accounts and phone numbers earlier than taking out loans, ”he added.

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