3 arrested for suspected loanshark activities
AsiaOne
Friday, Jan 18, 2013
SINGAPORE - Police have arrested 1 man and 2 women aged between 34 and 56 for suspected involvement in loansharking activities in 2 separate cases.
On January 17, 2013 at about 7pm, through follow-up investigations, officers from the Crime Strike Force of Woodlands East Neighbourhood Police Centre (NPC) arrested the 56 year-old man along Woodlands Drive 63.
Preliminary investigations revealed that he had opened bank accounts and given away his Automated Teller Machines (ATM) cards and Personal Identification Numbers (PINs) to loansharking syndicates to facilitate their illegal business.
He is believed to be a debtor to the loansharks and had agreed to assist them in order to offset his debts.
In another case at about 10.30pm, acting on a tip-off, officers from Bukit Batok NPC arrested two women aged between 34 and 39 at Commonwealth MRT, for suspected involvement in loansharking activities.
Preliminary investigations revealed that the 39 year-old woman is a debtor-turned-runner and she is believed to have assisted loanshark syndicates to collect ATM cards from debtors and performed electronic funds transactions via ATMs.
She had also assisted the loanshark syndicates by verifying for signs of harassment.
Upon her arrest, three ATM bank cards and a handphone were seized.
As for the 34 year-old woman, she had assisted the loanshark syndicates to collect ATM cards from debtors and verified signs of harassment.
Two ATM cards and a handphone were seized from her possession.
First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender shall be liable to a fine of not less than $30,000 and not more than $300,000, imprisonment for a term of up to four years and caning of not more than six strokes.
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 five years and mandatory caning of up to six strokes.
Commander of Jurong Police Division, Deputy Assistant Commissioner of Police, Wilson Lim, commended his officers for their determined efforts in clamping down on loansharking activities.
He reiterated that the police will do its utmost to root out the loanshark syndicates and anyone found assisting the loansharks in any way will be dealt with severely.
