Police have arrested 3 men, between 26 and 37, for their suspected involvement in assisting unlicensed moneylending syndicates in two separate cases.
2 In the first case, on 18 June 2015 at about 9.00pm, acting on information received, officers from Jurong Police Division arrested one 36-year-old man at Jurong West Central for his suspected involvement in assisting an unlicensed moneylending syndicate.
3 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 other debtors to perform ATM transactions related to unlicensed moneylending businesses. The suspect is also believed to have assisted the syndicate to verify sign of loansharking harassment at debtors’ residences and distributed flyers related to unlicensed moneylending businesses. Upon his arrest, 2 ATM cards, 3 handphones, 1 electronic tablet and cash amounting to $1,100/- were seized as case exhibits.
4 In the second case, on 19 June 2015 at about 1.00am, acting on information received, officers from Jurong Police Division arrested two men, aged 26 and 27, at Bukit Batok Central for their suspected involvement in assisting an unlicensed moneylending syndicate.
5 Preliminary investigations revealed that the suspects are believed to have assisted an unlicensed moneylending syndicate to procure Automated Teller Machine (ATM) card and Personal Identification Number (PIN) from one debtor to facilitate unlicensed moneylending businesses. Upon their arrest, 1 ATM card and 1 handphone were seized as case exhibits.
6 The suspect in the first case will be charged in Court on 20 June 2015. Investigations against the two suspects are still ongoing. 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
19 June 2015 @ 7:00 PM