15 arrested for suspected involvement in loansharking activities
Posted: 31 January 2012 1759 hrs
SINGAPORE: Ten men and five women, aged between 24 and 68 years, were arrested on Monday for suspected involvement in loansharking activities.
The arrests were made by officers from the Jurong Police Division after a 12-hour island-wide operation covering Jurong West, Ang Mo Kio, Henderson, Taman Ho Swee, Sembawang, Geylang Bahru and Simei housing estates.
Police said according to preliminary investigations, the suspects are believed to have opened bank accounts and given their Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) to loansharking syndicates to facilitate their illegal businesses.
The police said investigations are ongoing.
Under the Moneylenders Act, first-time offenders found guilty of assisting in unlicensed moneylending may be fined S$30,000, be imprisoned for a term not exceeding four years, and receive not more than six strokes of the cane.
- CNA/al
