Loan sharks getting more aggressive and deceptive, warns Michael Chong | TheStarTV.com

Loan sharks getting more aggressive and deceptive, warns Michael Chong

Published on 15 Jun 2026 6:25:29 PM

Malaysia's loan shark problem is escalating, with MCA receiving 159 complaints involving nearly RM16 million in loans as of June.

Its Public Services and Complaints Department head Datuk Seri Michael Chong warned that syndicates are using increasingly deceptive tactics, including charging victims for red-paint attacks they orchestrated themselves, and imposing interest as high as RM21,000 on a RM1,000 loan.

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news, thestartv, the star, loan shark, ah long, michael chong, debts, threats, red paint

Malaysia's loan shark problem is escalating, with MCA receiving 159 complaints involving nearly RM16 million in loans as of June.

Its Public Services and Complaints Department head Datuk Seri Michael Chong warned that syndicates are using increasingly deceptive tactics, including charging victims for red-paint attacks they orchestrated themselves, and imposing interest as high as RM21,000 on a RM1,000 loan.

WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline

Keywords:
news, thestartv, the star, loan shark, ah long, michael chong, debts, threats, red paint

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