The Police have arrested a 44-year-old man for his suspected involvement in loansharking activities.
On 30 January 2021 at about 10.30pm, officers from Central Police Division conducted checks along Middle Road where a man was allegedly found to be in possession of several bank cards that do not belonged to him and $800 cash. He was arrested by the officers.
The man is believed to be a loanshark runner who assisted the loansharks in their business by carrying out transfers of monies using Automated Teller Machine (ATM) and collecting ATM cards from debtors. 11 ATM cards, cash amounting to $800 and a mobile phone were seized as case exhibits.
The man will be charged in court on 1 February 2021 under the Moneylenders Act 2010 (Revised Edition). For first time offenders, the offence of assisting in carrying on the business of unlicensed moneylending carries a fine of not less than $30,000, and not more than $300,000, with mandatory imprisonment of up to four years, and mandatory caning of up to six strokes.
Members of the public are advised to stay away from loansharks and not work with or assist the loansharks in any way. The public can call the Police at ‘999’ or the X-Ah Long hotline at 1800-924-5664 if they suspect or know of anyone who could be involved in loansharking activities.
SINGAPORE POLICE FORCE
31 January 2021 @ 10:00 PM