Police have arrested two men, both aged 48 for their suspected involvement in assisting an unlicensed moneylending syndicate.
2 Acting on information received, officers from Jurong Police Division arrested the men in the vicinity of Bukit Batok Central on 17 June 2015. Preliminary investigations revealed that both suspects were believed to have assisted an unlicensed moneylending syndicate to procure Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) from other debtors to perform ATM transactions related to unlicensed moneylending businesses. Upon their arrest, 4 ATM cards and 3 handphones were seized as case exhibits.
3 Both suspects will be charged in Court on 19 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
18 June 2015 @ 4:53 PM