Malaysian law on white collar criminal

pLoan999 — Thu, 01 Nov 2012 12:41:59 +0800

Hi people,

I have a friend who have just committed a crime. Would like to know what will be the sentence if let's say he's caught forging fake signature on a cheque amounting RM 30,000 and withdraw it from the bank?

1 year? 2 years?

He have no criminal record in the past, he's not a celebrity but just a normal employee with a normal lifestyle just like the rest of us.

Thank you.

Want to ask about EPP

pLoan999 — Sat, 22 Sep 2012 20:10:05 +0800

Hello guys,

I wanted to know more about EPP. I'm not sure whether is this the right section to post.

Anyway please advice or PM me as I have an offer from an agent for 2 years EPP at 9% per year = 2 x 9% = 18%.

Based on my understanding;

I have a credit card owing RM 10,000

My card credit limit is RM 15,000

So if I apply for the EPP, the interest calculation should be as following:

RM 10,000 / 0.82 = RM 12,195

The EPP merchant will help me to settle my RM 10,000 credit card debts and swipe RM 12,195.12 and convert it to EPP.

So my monthly repayment to the bank will be RM 12,195 /24 months = RM 508 per month.

End of story.

BUT

what end up in reality was the merchant settle the RM 10,000 credit card debts but swipe my card for RM 12,987 instead.

The agent told me the extra was due to the 5% EPP charged by the bank and they will make payment to the bank for the 5% (RM 12987 x 5% = RM 649)
Meaning the 5% will be bear by the merchant.

So the total interest will be RM 2,987 / RM 12,987 = 23% for 2 years.

This mean the EPP is 23% (18% + 5%) for 2 years instead of 18% for 2 years as promised.

Am I right?

Please advice.

Thank in advance.

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Malaysian law on white collar criminal

Want to ask about EPP