By Mohd Zaini Samsu Hadi
KUALA LUMPUR – Taking advantage of other people’s misery. The Malaysian Association for Consumers and Borrowers Solutions (4PM) exposed the latest tactic used by certain bank officers, who became the mastermind of a scam which turned borrowers with outstanding housing loan into victims.
Its President, Rosland Mohd. Arif said that the activity was detected after 4PM received complaints from house owners who grunted after the banks wanted to auction their houses following their failure to serve their monthly repayment.
He alleged, many bank officers raked profit from their insidious action.
“We received many complaints about houses being auctioned off. All complainants said that they have never received any reminder letter or summon from bank, court or the land office.
“All decision on the auction was made at the headquarters of the bank in Kuala Lumpur,” he said in a statement to MalaysiaGazette today.
Rosland alleged, some banks auctioned off the houses through third-party, where some of them have no integrity.
He also alleged that those auctioneers collaborate with certain bank officers and most of the cases involved untrustworthy bank officers.
“We do not blame the bank, land office or the court but those bank officers who played the main role in the scam and manipulated all transactions,” he added. -MalaysiaGazette
