Labuan 'Ah Long' racket busted
Published on: Thursday, February 22, 2018
Labuan: Police here busted an "Ah Long" (illegal money-lending) syndicate and arrested five people on Tuesday. Labuan Police Chief Supt Farid Ahmad said they were detained in a raid on a premises at Jalan Bunga Mawar by six officers from the Commercial Crime Division around 1130am.He said 79 items were also seized during the raid, including cash totalling to RM34,133.30, flyers, business cards, logbooks containing the records of debtors, ATM cards, receipts and copies of the debtors' identification cards.
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The five suspects comprising three women and two men, aged between 22 and 32, were believed to be shopkeepers of the premises. There were remanded for three days beginning Wednesday to facilitate investigations.Farid said the officers conducted a stakeout at the premises for about a week before they raided the premises."They (syndicate) promoted their business by leaving business cards and flyers at public places and on vehicles.
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"The premises is said to have been licensed for running services business only and there was no money-lending licence issued to the premises by the Ministry of Finance," he added.Muhamad Farid noted the syndicate's targeted victims were small-time entrepreneurs, and low and middle-income earners who were lured with easily approved loans.
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"Such businesses thrive due to public demand. The onus does not lie solely on the authorities. If the public continue to turn to loan sharks, then the issue will never be solved," he said, adding that the police would continue to conduct operations to eradicate such activities.Farid urged the public to come forward if they have information pertaining to "Ah Along" syndicates on the island. Stay up-to-date by following Daily Express’s Telegram channel.
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