Malaysia cracks down on loan sharks, financial scammers hinh anh 1Illustrative image (Photo: Internet) 
Kuala Lumpur (VNA)Malaysian police have arrested thousands of loan sharks and cracked down on financial scammers since 2010, said an official.

Director of the Commercial Crimes Investigation Department Mohd Zakaria Ahmad said on November 14 that over 5,600 cases involving more than 1,100 people and loans worth over 34 million USD have been discovered.

According to him, such crime is increasing in Malaysia with 849 being arrested in the first 10 months of this year, compared to 465 last year.

Statistics showed that financial scams caused a loss of 8.38 million USD last year. However, the figure spiked to 13.6 million USD with over 4,200 cases during January – October.

As many as 20 scam gangs have so far been smashed this year./.