The Police will be charging a 45-year-old man for his suspected involvement in loansharking activities.
Between 22 March and 28 April 2022, the Police received several reports of harassment where debtor notes were sent via post to various government buildings and residential units. The notes contained photographs and personal information of alleged debtors of unlicensed moneylending.
Through follow up investigations, officers from the Criminal Investigation Department and the seven Police Land Divisions established the identity of the man and arrested him on 5 May 2022 in the vicinity of Sengkang.
Preliminary investigations revealed that the man had allegedly worked for a loanshark to print and mail debtor notes to multiple addressees island-wide. The man had also allegedly assisted the loanshark to perform banking transactions at Automated Teller Machines.
The man will be charged in court on 15 September 2023 for two counts of assisting in unlicensed moneylending and 22 counts of harassing debtor on behalf of an unlicensed moneylender under Section 19(1)(b)(i) read with Section 19(2)(a) and Section 47(2)(a) read with Section 47(3)(a) of the Moneylenders Act 2008 respectively. First-time offenders found guilty of an offence under Section 19 of the Moneylenders Act 2008 shall be punished with imprisonment of up to four years, a fine between $30,000 and $300,000 and caning of not more than six strokes. First-time offenders found guilty of an offence under Section 47 of the Moneylenders Act 2008 shall be punished with imprisonment of up to five years, a fine between $5,000 and $50,000, and caning of not less than three and not more than six strokes.
The Police will continue to take tough enforcement action against those involved in the unlicensed moneylending business, regardless of their roles, to ensure that they face the full brunt of the law. Members of the public are also advised to stay away from unlicensed moneylenders and not to work with or assist them in any way. Members of 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 unlicensed moneylending activities.
SINGAPORE POLICE FORCE
14 September 2023 @ 11:40 AM