Two arrested for suspected loansharking activities

Police have arrested a woman and a man, aged 36 and 52, respectively, in two separate cases for suspected involvement in loansharking activities.

In the first case, the female suspect was arrested on April 23 at Sengkang Square. She assisted loansharks in their businesses by collecting ATM cards from other illicit account holders and distributed flyers advertising loan facilities.

She is also believed to have opened at least five bank accounts and given away her ATM cards with Personal Identification Number (PIN) to loansharks to facilitate their businesses.

In a separate case on 23 April, the police were alerted to a case of someone causing trouble in the vicinity of Hougang Street 91. The male suspect who was arrested is believed to be assisting loansharks by demanding for repayments from borrowers at their residences.

First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender may be fined between $30,000 and $300,000, jailed up to four years and caned up to six strokes.

First-time offenders found guilty of acting on behalf of an unlicensed moneylender, committing or attempting to commit any acts of harassment may be jailed for up to five years, fined between $5,000 and $50,000, and caned up to six strokes.

Commander of Ang Mo Kio Police Division HQ, Deputy Assistant Commissioner of Police Keok Tong San said: "Members of the public should refrain from taking loans from unlicensed moneylenders and subsequently be pressurised to work for them when loans are defaulted."

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