08 August 2019

Two Teenagers Arrested For Loansharking Activities

The Police have arrested two female teenagers, aged 15 and 17, for their suspected involvement in loansharking activities.

On 7 August 2019, the Police were alerted to a case of loanshark harassment where the gate of a residential unit along Pasir Ris Drive 1 was secured with a bicycle lock and a debtor note was pasted on the wall outside the unit.

Through investigation and with the aid of images from police cameras, officers from Bedok Police Division established the identity of the two teenagers and arrested them along Eunos Road 5 on 8 August 2019. Preliminary investigations revealed that the two teenagers are believed to be involved in other similar cases of loanshark harassment island wide. Four bicycle locks were seized.

Police investigations are ongoing. Under the Moneylenders Act (2010 Revised Edition 2010), first time offenders found guilty of loanshark harassment shall be fined not less than $5,000, and not more than $50,000, with mandatory imprisonment of up to 5 years, and mandatory caning of up to 6 strokes.

Members of the public are advised to steer clear from all forms of loansharking-related activities, and not be tempted by the offer of quick and easy money. Parents are also advised to be mindful of their children’s activities and educate them not to fall prey to these unscrupulous criminals. The punishments for loansharking-related offences are severe, and parents must intervene promptly should their children display tell-tale signs of being under the influence of bad company. 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 illegal loansharking activities.

08 August 2019 @ 7:36PM

Last Updated on 13 August 2019