Y
Yoshitsune Minamoto
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Singapore
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Jan 12, 2010
Crackdown on loansharks
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Police also smashed 13 syndicates last year, compared to nine busted in 2008. The crippled syndicates were believed to be responsible for at least 3,800 harassment reports. -- PHOTO: NP
<!-- story content : start --> THE number of loanshark and harassment cases have fallen due to police working in tendem with the community. The cases dropped from 5,287 cases for the April to June quarter last year to 4,377 and 4,845 cases for the last two quarters respectively. The number of arrests rose from 390 in 2007 to 505 in 2008 to 958 last year. Police also smashed 13 syndicates last year, compared to nine busted in 2008. The crippled syndicates were believed to be responsible for at least 3,800 harassment reports. These figures were revealed by Senior Minister for State for Law and Home Affairs Ho Peng Kee in Parliament on Tuesday, when he moved the second reading of the Moneylenders (Amendment) Bill, which will introduce powers to disrupt the finances that sustain loanshark operations, hitting, in particular, loansharks in the higher echelons of the syndicates where it matters most. It also introduces new measures to strengthen the existing legal regime, including tougher penalties and criminalising acts that contribute to or advance loanshark activities in Singapore. The law's reach will also be extended beyond Singapore's borders.
Associate Professor Ho said despite existing measures, loanshark activities have persisted. Except for a respite in 2007 when the number of loanshark and harassment cases dropped slightly, the number of reports has continued to rise, with 11,879 cases reported in 2008 and 18,645 cases reported last year. The minister said a key reason is that loansharks now increasingly target innocent neighbouring households by splashing paint on their doors or on their cars in multi-storey carparks, hoping that peer pressure would force the borrowers to pay up. 'Indeed, in some instances, knowing that innocent parties are frustrated, loansharks demand that they pay up on behalf of the actual debtors! These acts, though generally non-confrontational in nature and non-life threatening, nevertheless disrupt the community's sense of safety and well-being,' he said. Some loansharks have also resorted to dangerous tactics by locking people up in their homes or setting on fire items found outside their homes. 'If caught, these harassers will be punished with the full brunt of the law,' warned Prof Ho, who went on to provide the House with some insights into how loanshark syndicates operate in Singapore. Parliament passed the bill.
Home > Breaking News > Singapore > Story
Jan 12, 2010
Crackdown on loansharks
<!-- end left side bar -->
Police also smashed 13 syndicates last year, compared to nine busted in 2008. The crippled syndicates were believed to be responsible for at least 3,800 harassment reports. -- PHOTO: NP
<!-- story content : start --> THE number of loanshark and harassment cases have fallen due to police working in tendem with the community. The cases dropped from 5,287 cases for the April to June quarter last year to 4,377 and 4,845 cases for the last two quarters respectively. The number of arrests rose from 390 in 2007 to 505 in 2008 to 958 last year. Police also smashed 13 syndicates last year, compared to nine busted in 2008. The crippled syndicates were believed to be responsible for at least 3,800 harassment reports. These figures were revealed by Senior Minister for State for Law and Home Affairs Ho Peng Kee in Parliament on Tuesday, when he moved the second reading of the Moneylenders (Amendment) Bill, which will introduce powers to disrupt the finances that sustain loanshark operations, hitting, in particular, loansharks in the higher echelons of the syndicates where it matters most. It also introduces new measures to strengthen the existing legal regime, including tougher penalties and criminalising acts that contribute to or advance loanshark activities in Singapore. The law's reach will also be extended beyond Singapore's borders.
Associate Professor Ho said despite existing measures, loanshark activities have persisted. Except for a respite in 2007 when the number of loanshark and harassment cases dropped slightly, the number of reports has continued to rise, with 11,879 cases reported in 2008 and 18,645 cases reported last year. The minister said a key reason is that loansharks now increasingly target innocent neighbouring households by splashing paint on their doors or on their cars in multi-storey carparks, hoping that peer pressure would force the borrowers to pay up. 'Indeed, in some instances, knowing that innocent parties are frustrated, loansharks demand that they pay up on behalf of the actual debtors! These acts, though generally non-confrontational in nature and non-life threatening, nevertheless disrupt the community's sense of safety and well-being,' he said. Some loansharks have also resorted to dangerous tactics by locking people up in their homes or setting on fire items found outside their homes. 'If caught, these harassers will be punished with the full brunt of the law,' warned Prof Ho, who went on to provide the House with some insights into how loanshark syndicates operate in Singapore. Parliament passed the bill.
