Maybank is willingly or unwillingly helping to perpetuate a scam to fleece unsuspecting loan borrowers.The bank appoints a legal firm from Kuantan to write a letter of reminder whenever a borrower merely has a two monthly instalment in arrears. And for each letter of reminder the legal firm charges $30. The problem is why cant the Bank sends a reminder themselves rather than engage a legal firm to send a letter of reminder and then allows them to charge borrower $30 for a letter of reminder.If there are 5000 borrowers who are two months in arrears every month, the legal firm stands to make a neat $150,000 for merely sending a letter of reminder- an administrative job that virtually only cost 0.30cts.postage stamp.
Is Bank Negara aware of this scam being perpetuated or are they closing one eye to this scam? And of course the losers are the borrowers who have to cough up $30 each time the legal firm writes a letter of reminder.Can someone from the Bank please explain why they are allowing someone from the legal frim to make a fast buck at the expense of the poor borrower? Or is someone from the bank also benefitting from such an arrangement.
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