Three arrested for alleged loansharking activities
They are believed to have opened bank accounts and provided their Automated Teller Machine cards and Personal Identification Numbers for use by loan sharks. -AsiaOne
Fri, Jan 27, 2012
AsiaOne
Two men and one woman aged between 28 and 57 years old have been arrested by the police for suspected involvement in loansharking activities.
In the first case, officers from Jurong Police Division following up on investigations into cases of loansharking activities arrested a 28-year-old man and a 57-year-old woman on Jan 26 at about 12pm for suspected involvement in loansharking activities.
Preliminary investigations revealed that both subjects are debtor-turned-runners and are believed to have assisted loan shark syndicates by opening bank accounts as well as providing their Automated Teller Machine (ATM) cards and Personal Identification Numbers (PIN) for use.
In the second case, officers from Jurong Police Division interviewed and arrested a 51-year-old man in the vicinity of Orchard Road on Jan 26 January at about 6.15pm after finding loan shark related items such as a mobile phone containing suspected debtors' records, a stack of bank transactions receipts and two ATM cards in his possession.
The man was detained for suspected involvement in loansharking activities and the items were seized as case exhibits.
Preliminary investigations revealed that the suspect is a debtor-turned-runner and he is believed to have assisted loan shark syndicates by performing ATM fund transactions.
Investigations against the two suspects in the first case are still ongoing while the suspect arrested in the second case will be charged in Court on Jan 28.
Under the Moneylenders Act 2010 (Revised Edition), a person is presumed to have assisted an unlicensed moneylender when a bank account or ATM card of any person is used to facilitate transactions.
First-time offenders found guilty of assisting an unlicensed moneylender can be fined between $30,000 and $300,000, jailed up to four years and can also be caning up to six strokes.
Jurong Police Division commander Assistant Commissioner of Police Florence Chua commended her officers for their relentless efforts in clamping down on loansharking activities.
She said the police will continue to take tough enforcement action against those found assisting the loan shark syndicates in any way.