Loan Shark

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Loan Shark

A person who lends money in exchange for its repayment at an interest rate that exceeds the percentage approved by law and who uses intimidating methods or threats of force in order to obtain repayment.

In most jurisdictions Usury laws regulate the charging of interest rates. Loan sharking violates these laws, and in many states it is punishable as a criminal offense. The usual penalty imposed is a fine, imprisonment or both.

References in periodicals archive ?
It happened when a friend borrowed money from a 'ah long' and did not pay the loan, but the ah long came after me, but I was not able to raise the money to pay.
'Two days later, I received a call from the 'ah long' asking me to pay them RM1,000 which they claimed I borrowed from them.
'I came to know about the Ah Long from a friend, Hassan; I had asked him whether he knew of any source that I could borrow money from so that my RM120,000 deposit on the house would not 'burn' (be forfeited).
'What is worrying is that the Ah Long would hold on to their ATM cards.
'Following the incident, my friend made a police report accusing me as an ah long and also claimed that I had caused disturbances at his home.