Police have arrested a 26-year-old man and a 38-year-old woman, for their suspected involvement in two separate unlicensed moneylending cases.
2 On 25 June 2015, acting on information received, officers from Jurong Police Division arrested the man and woman at two separate locations in the Bukit Batok area for their suspected involvement in assisting unlicensed moneylending syndicates. Preliminary investigations revealed that both suspects are debtors-turned-runners and had assisted an unlicensed moneylending syndicates to procure Automated Teller Machine (ATM) cards with Personal Identification Numbers (PINs) from other debtors to facilitate unlicensed moneylending businesses. Upon their arrest, 10 ATM cards, 3 handphones and cash amounting to $250/- were seized in connection to the cases.
3 Both suspects will be charged in Court on 27 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
26 June 2015 @ 7:30 PM