Police have arrested a 37-year-old man for his suspected involvement in loansharking activities.
2 On 14 January 2015 at about 5.15pm, Crime Strike Force Officers from Woodlands East Neighbourhood Police Centre (NPC) arrested the man in Woodlands for suspected loansharking activities. Preliminary investigations revealed that he is a debtor-turned-runner, who is believed to have assisted loansharks to procure Automated Teller Machine (ATM) cards with Personal Identification Numbers (PINs) from debtors before using them to perform ATM fund transactions. Upon his arrest, 1 ATM card, 1 bank account book and 1 mobile phone were seized as case exhibits for the purpose of investigations.
2 Investigations against the 37-year-old suspect are still ongoing. Under the Moneylenders Act 2010 (Revised Edition), first time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender, may be fined not less than $30,000 and not more than $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning of not more than six strokes.
SINGAPORE POLICE FORCE
15 January 2015 @ 8:10 PM