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Public to beware of fake money-lending licences

Dec 06, 2017

Bank Negara has warned the public to be cautious about a scam involving fake money-lending licences.

It says these fraudsters use licences purportedly issued by the central bank, and promote themselves via social media, phone calls, SMS and emails. 

They lure the public to take loans, but force them to make an initial payment as so-called loan processing fees. 

Bank Negara says it does not issue money lending licences and urged victims of financial scams to lodge a report with the police.