Criminalizing borrowers will be like jailing drug addicts...won't solve the problem.
Even lazy jiakliaobee pappies dun dare to propose this 'easy solution'.
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Loanshark & Runners run wild in Sinkieland!
- Thread starter PhuaCheeBye
- Start date
Criminalizing borrowers will be like jailing drug addicts...won't solve the problem.
Even lazy jiakliaobee pappies dun dare to propose this 'easy solution'.
124 nabbed in islandwide anti-loansharking operation
AsiaOne
Thursday, Jan 23, 2014
SINGAPORE - A total of 124 suspects, aged between 15 and 64, were arrested by the police after an islandwide anti-loansharking operation that took place from Monday to Wednesday.
During the 61-hour operation, officers from the Criminal Investigation Department (CID) and the six Police land divisions conducted simultaneous raids at multiple locations in Singapore, resulting in the arrests.
These include areas such as Ang Mo Kio, Clementi, Jurong, Bendemeer, Toa Payoh and Tampines.
Preliminary investigations revealed that four of the suspects were believed to have acted as runners who had facilitated the loansharks in their businesses by collecting Automated Teller Machine (ATM) cards and loan repayments; and carrying out ATM transfers.
Nine suspects who were believed to have provided false contact information when obtaining loans from loansharks were also arrested.
Investigations under National Registration Act will also be carried out against these nine suspects for failing to report change of address.
The remaining 111 suspects were believed to have opened bank accounts and given away their ATM cards and Personal Identification Numbers (PINs) to loansharks.
Investigations against all the suspects are ongoing.
Under the Moneylender Act, when a bank account or ATM card of any person is used to facilitate moneylending by an unlicensed moneylender, that person is presumed to have assisted in the carrying on the business of unlicensed moneylending.
First-time offenders found guilty of assisting in the business of unlicensed moneylending may be fined not less than $30,000 and not more $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning not more than six strokes.
First-time offenders found guilty of acting on behalf of an unlicensed moneylender, committing or attempting to commit any acts of harassment shall be punished with imprisonment for a term not exceeding 5 years, a fine of not less than $5,000 and not more than $50,000, and shall also be liable to caning of not less than 3 and not more than 6 strokes.
Any person who is guilty of providing false contact information to obtain loans from loansharks shall be liable upon conviction to imprisonment for a term not exceeding 12 months. Under the National Registration Act, any person who is guilty of an offence of failing to report a change of address shall be liable on conviction to a fine not exceeding $5,000/- or to imprisonment for a term not exceeding 5 years or to both.
Members of public are advised to stay away from loansharks and not to work with or assist loansharks in any way.
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.
[email protected]
AsiaOne
Thursday, Jan 23, 2014
SINGAPORE - A total of 124 suspects, aged between 15 and 64, were arrested by the police after an islandwide anti-loansharking operation that took place from Monday to Wednesday.
During the 61-hour operation, officers from the Criminal Investigation Department (CID) and the six Police land divisions conducted simultaneous raids at multiple locations in Singapore, resulting in the arrests.
These include areas such as Ang Mo Kio, Clementi, Jurong, Bendemeer, Toa Payoh and Tampines.
Preliminary investigations revealed that four of the suspects were believed to have acted as runners who had facilitated the loansharks in their businesses by collecting Automated Teller Machine (ATM) cards and loan repayments; and carrying out ATM transfers.
Nine suspects who were believed to have provided false contact information when obtaining loans from loansharks were also arrested.
Investigations under National Registration Act will also be carried out against these nine suspects for failing to report change of address.
The remaining 111 suspects were believed to have opened bank accounts and given away their ATM cards and Personal Identification Numbers (PINs) to loansharks.
Investigations against all the suspects are ongoing.
Under the Moneylender Act, when a bank account or ATM card of any person is used to facilitate moneylending by an unlicensed moneylender, that person is presumed to have assisted in the carrying on the business of unlicensed moneylending.
First-time offenders found guilty of assisting in the business of unlicensed moneylending may be fined not less than $30,000 and not more $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning not more than six strokes.
First-time offenders found guilty of acting on behalf of an unlicensed moneylender, committing or attempting to commit any acts of harassment shall be punished with imprisonment for a term not exceeding 5 years, a fine of not less than $5,000 and not more than $50,000, and shall also be liable to caning of not less than 3 and not more than 6 strokes.
Any person who is guilty of providing false contact information to obtain loans from loansharks shall be liable upon conviction to imprisonment for a term not exceeding 12 months. Under the National Registration Act, any person who is guilty of an offence of failing to report a change of address shall be liable on conviction to a fine not exceeding $5,000/- or to imprisonment for a term not exceeding 5 years or to both.
Members of public are advised to stay away from loansharks and not to work with or assist loansharks in any way.
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.
[email protected]
Ruining people CNY festive mood. Why they never arrest borrowers that default on payment.
Shut the 2 casinos or Ban All Singaporeans from entering will solve 50% of the LS harassment problems!
PAP has gone too far in opening these 2 casinos without a proper restriction scheme for middle and low income group... end result....more and more of these people who cannot afford to gamble end up borrowing from Loansharks and when cannot repay the high interest and principal, they turn to work for the Loansharks by giving away the bank accounts to facilitate illegal moneylending business..some others end up as harassers and gets a fee to reduce their loan amount ....
ONLY A STUPID GOVT will allow its citizens to Kill themselves.
This is One Reason Why I Oppose the PAP Government.
PAP has gone too far in opening these 2 casinos without a proper restriction scheme for middle and low income group... end result....more and more of these people who cannot afford to gamble end up borrowing from Loansharks and when cannot repay the high interest and principal, they turn to work for the Loansharks by giving away the bank accounts to facilitate illegal moneylending business..some others end up as harassers and gets a fee to reduce their loan amount ....
ONLY A STUPID GOVT will allow its citizens to Kill themselves.
This is One Reason Why I Oppose the PAP Government.
looks like more police Ops next week too...
Bro even the polis conduct more ops still the same only runners are caught
FUCK PAP!
Useless SPF....MAKE IT AN OFFENCE AGAINST BORROWING!!!!
Useless SPF....MAKE IT AN OFFENCE AGAINST BORROWING!!!!
Who did you vote for?
ALL READY to Splash and Chop LS runners in my neighbourhood!
Good luck to these Bastards..
SPF Useless. PAP cant be bothered.
Take the Law into Your Own Hands!
I bought a Machine Gun...All trespassers will be SHOT regardless of nationality...hahahahaha!
Those licensed moneylending shops are really all over the island now.
All together now: Huat Ah!
I can just imagine for the generations to come, more and more Sinkies will end up in debt.
The 2 casinos and the Hou Lian lifestyles....
I pity the future generations.
PAP very short sighted....
PAP dont give a fuck as they are not the ones borrowing from ah longs.
That is why PAP must pay the price for SUPPORTING loansharks and runners!
VOTE PAP OUT!
Wishing All Loansharks and Runners...
1. Tio Cancer
2. Kena Knock Down by Car when crossing road
3. Forever will LOSE money in Gambling
4. All your closed ones are die very terribly
5. Suay Suay Suay in Year of the Horse
And please go see Yan Luo Wang faster!
1. Tio Cancer
2. Kena Knock Down by Car when crossing road
3. Forever will LOSE money in Gambling
4. All your closed ones are die very terribly
5. Suay Suay Suay in Year of the Horse
And please go see Yan Luo Wang faster!
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Because borrowing from ah long is not against the law (yet).
Exactly CNY time that ah longs go after bad debtors....more effective.
Ah long is a peasant problem. You die your business is pap's motto.
Useless SPF.... still cannot catch the loansharks after so many years!!!
Vote Out PAP!
Vote Out PAP!
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