llegal moneylender is the party offering illegal loans by charging higher interest rates. Doubled profits allow their business to continue operating despite the global economic recession. Oriented services such as shark’s need to combat. Illegal moneylender promote their services with attractive offers such as instant and convenient loan without collateral while legitimate financial companies impose strict conditions and take a long time to approve the loan.
In Indian society, illegal moneylender known as Chettiar, and was called the “Tai Ee Long” in Chinese and “loan sharks” in the Malay community.
Statistics show that the number of illegal borrow from loan sharks is increasing from time to time. Because of these activities brought many disadvantages, the cause of this phenomenon must be identified and effective measures should be taken to overcome them. There are several causes that make illegal moneylender services received. Among them is as easy approved loans illegal loan sharks.
This is because borrowing money from the bank require complicated procedures and strict conditions.
Someone who borrow from illegal loan sharks will get loan approval within a few hours compared with a bank that requires a long time to consider the eligibility of the borrower. Illegal moneylender also mendediakan loans to anyone regardless of whether the money can be borrowed, from RM1000 to hundreds of thousands of dollars. They also know how to win borrowers and allow lenders to require collateral.
More and more loan money from illegal loan sharks will only increase KADA interest on the borrower. Rising interest rates cause borrowers everyday mampumemulangkan not borrowed money and eventually there will be a further tragedy case. The next factor is the urgent need of money or suffered by the borrower to make a living for not having a salaried job. This is due to the borrower is experiencing problems or obstacles when working. In addition, borrowers may also poorly educated and do not have a certificate of excellence and consequently difficult to get high income pekarjaan.
Therefore, borrowers will face problems such as dismissal, unemployment and so on. This causes the borrower to borrow the money from illegal loan sharks for a living. In addition, the problem of financing children’s education and the need to start or expand their businesses is also one. The cause of the moneylender loans illegal. One example of business if someone wishes start or expand a business, he will require a sum of money sufficient to achieve the desire. It can not be dinifikan that source can also cause illegal moneylender services received in the community.
With this effective measures should be taken as soon as possible in order to overcome problems related to illegal loan sharks. Measures that can be implemented to combat the problem of illegal loan sharks are law enforcement tight, Moneylenders Act Amendments of 1951 to authorize the police to do the investigation, seize documents and search premises and arrest any person engaged in illegal loan sharks without a warrant so that no one cried foul. The authorities should regulate advertising publications involving illegal lending by loan sharks of the tyrant.
Amendments to the Money Lenders Act 1951 to increase the maximum fine and imprisonment and caning for pesalah. Contohnya, they should be charged fines included a sum of RM10000 or five years imprisonment or both at once. For illegal loan sharks who hurt borrowers should be severe punishment, such as whipping. Therefore, the police in collaboration with the Ministry of Home Affairs (MOHA) should work together to limit the production and penguatkuasaa. In this way the problem of illegal loan sharks can dibanteraskan effectively.
In addition, financial firms and banks also play an important role in activities membanteraskan illegal loan sharks. Finance companies and banks can provide various forms of loans to low-income and sederhana. Contohnya, the bank can extend the time frame to return the money borrowed by the borrower with low income or facing kwwangan. Tambahan about the bank can offer interest rates less applicable to low-income borrowers. Banks and finance companies have to provide a more simple procedure and does not require collateral and the many and strict conditions for the easy way to make loans.
In addition, they also have to accelerate lending to people who are desperate and facing serious financial problems. Awareness of the adverse effects of borrowing money from illegal loan sharks should also be increased in the community. The government should launch a massive campaign to make people aware of the dire consequences of borrowing money from illegal loan sharks. Awareness activities can be disseminated through print media. As a member of society, we also have a responsibility to report to the authorities if they have information about illegal lending activities.
Therefore, public pengduan centers should be set up in setap area to facilitate community Assemblywoman pimp report illegal activity to activity can be reduced illegal activities pimp. (Tzyy Shyang) In conclusion, people should avoid getting involved in illegal money lenders from the loan sharks so dapt live in peace and quiet for being involved in this activity will not get any benefits even cause byawa themselves and family members at risk. By the community today needs to join forces together deangan authorities to menganangi this activity from excessive fragmentation.
The authorities should take stern action against the recipient and the giver and illegal loan sharks lender and provide various altertif so people can borrow money from financial institutions of which is recognized as the banks and other financial companies so there is no issue we do not get away from illegal loan sharks cenkagaman by we are in financial difficulties. However, awareness of the importance of smart money management should also be vaccinated in the community so that they do not face financial problems in mengadapi uncertain economic development.