A 43-year-old migrant domestic worker will be charged in court on 28 February 2024 for her suspected involvement in unlicensed moneylending activities.
Between June 2023 and August 2023, Police received more than 10 police reports of a ‘TikTok’ account that was promoting unlicensed moneylending activities. Officers from the Criminal Investigation Department conducted investigations and uncovered the identity of the woman behind the account. She had allegedly used her ‘Tiktok’ account to assist unlicensed moneylenders in promoting and advertising their illegal businesses on ‘TikTok’.
The woman will be charged in court with one count of assisting to carry on unlicensed moneylending business, which is punishable under Section 19(1)(b)(i) of the Moneylenders Act 2008.
Under the Moneylenders Act 2008, first-time offenders found guilty of carrying on or assisting to carry on business of unlicensed moneylending shall be punished with imprisonment term of up to four years, a fine of not less than $30,000 and not more than $300,000, and caning of not more than six strokes.
The Police will continue to take tough enforcement actions against those involved in the loansharking business and this includes those promoting unlicensed moneylending activities on social media. Regardless of their roles, they will face the full brunt of the law. Migrant workers who have assisted or borrowed money from unlicensed moneylenders may also be repatriated and barred from working in Singapore.
The Police have been working with relevant ministries and partners, such as the Ministry of Manpower and other non-governmental organisations, to educate migrant domestic workers against borrowing money from unlicensed moneylenders. The Police will continue to work closely with stakeholders to intensify outreach efforts to warn migrant workers against the severe consequences of getting involved in unlicensed moneylending activities.
Members of public are advised to stay away from loansharks and not to work with or assist the loansharks in any way. Employers of migrant domestic workers can protect them by reminding them to stay away from unlicensed moneylenders and not work with or assist unlicensed moneylenders 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. All information provided will be kept confidential.
SINGAPORE POLICE FORCE
27 February 2024 @ 3:30 PM