Borrower has to pay RM3,000 for RM30,000 loan, Uncle Kentang steps in


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Should you pay upfront fees for a loan?

A regulated lender will never ask you to do this, regardless of your credit score.

A young man was nearly scammed out of RM3,000 when he tried to borrow RM30,000 from a scammer.

The scammer had asked her for the money before the loan could be approved.

However, he didn’t have the money. The scammer then gave him RM500 via an online transfer, apparently to prove the loan offer was genuine.

Unfortunately, the matter turned sour and the scammer asked him to refund RM3,000 within two days.

Otherwise, he will have to give his bank card and his bank details to the scammer.

Uncle Kentang to the rescue

Luckily, her situation came to the knowledge of social activist Kuan Chee Heng, also known as Uncle Kentang.

READ MORE: ‘It’s from Pasar Malam’, Uncle Kentang explains why RM1 car was sold to woman with ‘luxury’ bag and iPhone

Kuan immediately advised the young man to close his bank account.

Despite a police report, the scammer continues to threaten and demand the RM3,000. I told the young man to stay firm.

Uncle Kentang on the con artist’s continued harassment.

Kuan said he asked for police help in locating and arresting the scammer.

At the same time, he advised the public not to borrow money from unverified lenders on social media.

Advance Loan Schemes – Understand and Avoid

Any upfront fee the lender wants to collect before issuing the loan is a signal to walk away, especially if you’re told it’s for “insurance”, “processing”, or just “paperwork”.

Legitimate lenders often charge application, appraisal, or credit report fees, but no loan fees.

Advance loan scams target people who have bad credit or have difficulty getting a loan for other reasons.

Scammers are often aggressive and will try to rush the customer into making a payment or committing on the spot.

They post ads, often online, or call with these so-called offers.

Many buy lists of names of people who have researched or applied for personal or other loans online.

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