21 people arrested in anti-loansharking blitz
AsiaOne
Friday, Aug 16, 2013
SINGAPORE - Police have arrested 14 men and 7 women, aged between 18 and 65, for suspected involvement in loansharking activities.
On Aug 15, officers from Jurong Police Division mounted an anti-loansharking operation across the island, covering Jurong West to Pasir Ris.
The officers arrested 21 suspects and preliminary investigations revealed that they are debtors-turned-runners.
The suspects are believed to have assisted loansharks by opening bank accounts, and giving away their Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs).
Investigations are currently ongoing.
If convicted under the Moneylenders Act 2010 (Revised Edition), first-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender, may be fined up to $300,000.
They may face also a jail term up to four years and shall also be liable to be punished with caning of not more than six strokes.
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