2 females arrested for loansharking activities
AsiaOne
Friday, Jul 26, 2013
SINGAPORE - Two females, aged 17 and 19, have been arrested for suspected involvement in loansharking activities.
On Jul 24, 2013, the 19-year-old was arrested in the vicinity of Tampines Ave 8, while the 17-year-old suspected was arrested in the vicinity of Lorong 5 Toa Payoh by the Ang Mo Kio Police Division.
Although investigations are still on-going, it is revealed that both suspects gave their ATM cards and Personal Identification Numbers (PIN) to a loansharking syndicate for unlicensed moneylending. They are also suspected to have assisted loansharks by carrying out electronic fund transactions via Automated Teller Machines (ATM).
The officers involved in the arrest were commended for their perseverance and commitment by Commander of Ang Mo Kio Police Division, Assistant Commissioner of Police Keok Tong San.
He said, ""Police is determined to come down hard on all those who are involved in loansharking activities, causing annoyance and disruptions to the public peace and security."
Under the Moneylenders' Act, 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 4 years and shall also be liable for caning with not more than 6 strokes.
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