SERI ALAM: Police have dismantled an unlicensed money lending syndicate with the arrest of eight men during a raid on a house in a housing estate here yesterday.
The suspects, aged between 20 and 40, were believed to have been operating illegal money-lending activities in the district, targeting clients through social media platforms.
District police chief Superintendent Mohd Sohaimi Ishak said the syndicate promoted their services online, promising instant approval and quick cash.
"Acting on gathered intelligence, the district police commercial crime officers stormed the premises and apprehended the suspects," he said.
He said all the suspects had previously served prison sentences for similar unlicensed money-lending activities and had past criminal records related to illegal gambling and drug offences.
Police seized laptops and mobile phones believed to have been used in their illicit operations.
Investigations under the Moneylenders Act are ongoing. The suspects could face fines of up to RM250,000, a maximum five-year jail sentence, or both.
Sohaimi also urged the public to avoid taking loans from unlicensed money lenders, particularly those who approach them online, to prevent being cheated or harassed.