Bukit Aman commercial crime investigation department director Mohd Kamarudin Md Din said the reports involved loans amounting to RM2.92 million.

He added that the Covid-19 pandemic had caused many people to lose their jobs and source of income, forcing some to borrow money from loan sharks for their sustenance.

“The CID always conducts monitoring and intelligence work to detect and identify syndicates of unlicensed money lenders,” he said in a statement today.

Meanwhile, Kamarudin said the department arrested 11 individuals, aged between 15 and 34, including three women, in an operation codenamed “Vulture” in Johor last Tuesday.

They are believed to be members of two loan shark syndicates known as the Ah Han and Ah Sing that target traders, as well as government and private sector employees.

He said that the syndicates were believed to be active since two years ago.

According to Kamarudin, their modus operandi was to offer loans with interest of between 10% and 15% through various social media platforms, including Facebook, WeChat and WhatsApp.

“When the borrowers fail to make their repayments, members of the syndicate will call and threaten them with violence,” he added.