Police have arrested a 59-year-old man who is believed to have assisted in the business of an unlicensed moneylending syndicate.
2 Acting on information received, officers from the Jurong Police Division arrested the suspect at Bukit Batok Central on 11 June 2015 at about 6.00pm. Preliminary investigations revealed that the suspect is believed to have assisted an unlicensed moneylending syndicate to procure Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) from another debtor to facilitate unlicensed moneylending activities. Upon his arrest, one mobile phone and one ATM card were seized as case exhibits.
3 The suspect will be charged in Court on 13 June 2015. Under the Moneylenders Act 2010 (Revised Edition), first-time offender found guilty of carrying on the business as an unlicensed moneylender or assisting in the business of unlicensed moneylending may be fined not less than $30,000 and not more $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning not more than six strokes.
SINGAPORE POLICE FORCE
12 June 2015 @ 7:50 PM