Major Teoh’s Blog

February 10, 2007

Loan sharks go online

Filed under: Finance — Major (Rtd) Teoh @ 6:36 pm

Loan sharks go online

http://www.majorteoh.wordpress.com/

Quote: “………..  THE Ah Long or loan sharks have gone high-tech by setting up their business in cyberspace.  With police and the Housing and Local Government Ministry hot on their heels, quite a number of loan sharks have engaged the services of information technology savvy people to help them set up websites, China Press reported.  It is learnt that the conditions, procedures and interest rates imposed by the “online” Ah Long are no different from conventional Ah Long’s.  These loan sharks are also willing to give loans of up to RM1mil but with condition that the borrowers have collateral.  ……..” UnquoteSnipped ……. snipped for space  ……..

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