KUALA LUMPUR: Police have recorded a total of 2,275 cases involving Ah Long (illegal moneylenders) with total losses amounting up to RM68.8 million.
Federal police Commercial Crime Investigation Department (CCID) deputy director Deputy Commissioner Datuk A. Thaiveegan said the cases were recorded between January 2016 and July this year.
It is learnt that about 50 per cent of the cases have been solved by the department.
"I advise members of the public not to fall victim to Ah Long syndicates. When you become victims, more problems will arise so think properly before taking loans from these moneylenders.”
He said those wanting to seek loans from Ah Long are advised to check on the legitimacy of the moneylenders through Bank Negara, the Companies Commission of Malaysia and with the CCID.
In a recent operation, the department crippled four Ah Long syndicates with the arrests of 29 individuals in the Klang Valley, Johor and Kedah between July 30 and Tuesday.
Two masterminds aged 47 and 48 were also nabbed.
One of the masterminds, along with four others, had attempted to flee to Thailand via Bukit Kayu Hitam but were intercepted by the raiding team.
Police believe they have solved at least nine cases with the arrest of the 29 people.
Those arrested, aged between 18 and 41 were arrested after 30 reports were lodged by debtors who claimed they were threatened.
Thaiveegan said the syndicate members had intimidated debtors who failed to pay by splashing their houses with paint and threatening them and their family members.
Police also seized paint, hammers, laptops, mobile phones and documents in the five-day operation.
Meanwhile, in an unrelated case, Thaiveegan said more than 500,000 Malaysians have fallen victim to foreign exchange scams since 2016.
"The total losses incurred is estimated to be between RM2 billion to RM3 billion," he said.
On Thursday, police arrested three men including a self-proclaimed “Datuk” allegedly linked to a foreign exchange scam involving funds amounting to RM39.6 million.
The Datuk's 27-year-old son was also nabbed in the operation.
The three were picked up in Maran, Pahang and Kota Baru in Kelantan.
Police had received 114 reports on the company between February last year and July this year, with 20 investigation papers opened.