Facebook ad scams come in different forms.
The more insidious ones steal your money in the middle of the night.
The scarier ones, though, belong to the “loan shark” category, as we’ll quickly come to learn.
Here’s what happened to an unfortunate man who clicked on a Facebook ad and dragged his entire family into trouble.
Man in S’pore Forced to Pay $2,000 Cancellation Fee After He Clicked on FB Ad Offering Loans
Kwan, 29, worked as a baker in Singapore.
In May 2023, he reportedly tried to borrow $10,000 by clicking on a Facebook ad.
However, he noticed something suspicious in the terms and conditions after filling up the form and cancelled the application.
Unfortunately, it was too late.
Kwan received a call from the “moneylender” who insisted that he pay a $2,000 cancellation fee.
Kwan’s wife, Zhang, recalled that he was told he could pay the fee in instalments.
And so, Kwan transferred $200 to the bank account provided.
The moneylender, however, claimed they hadn’t received the money.
Thereafter, the husband refused to pay any more of the fees.
Loan Sharks Turn Up to Burn Kwan’s Home in M’sia
In September 2023, things took a turn for the worse.
The moneylender turned out to be loan sharks and managed to find Kwan’s home address in Malaysia.
On 11 and 15 Sep 2023, runners were sent to set his home on fire. Thankfully, the fires were extinguished with no serious injuries.
On 17 Sep 2023, Kwan received a call from the loan sharks who demanded an additional $3,000.
Apparently, it’s the fee for sending someone to set their house on fire.
Who knew you needed to pay for someone to set fire to your house?
If he does not pay up, the loan sharks will kidnap the children.
Entire Family Affected By Loan Sharks
According to Zhang, the situation affected the entire family.
Worried for her own safety, Zhang had left her job. Meanwhile, her children had also stopped going to school.
Kwan also left his job as a baker in Singapore and plans to return to Malaysia to deal with the issue.
The family lodged three police reports and sought help from Michael Chong, the head of the Malaysian Chinese Association’s Public Services and Complaints Department.
According to Chong, these are Singaporean extortionists who are pretending to be moneylenders to target Malaysian victims.
“The Singapore police are also aware of these syndicates. Please stop resorting to loan sharks, and if you must, take loans from licensed moneylenders.”