The Police have arrested three youths, aged between 14 and 17, for their suspected involvement in loansharking activities.
On 28 January 2019, the Police were alerted to a case of loanshark harassment where the gate of a residential unit at Blk 498LTampines Street 45 was secured with a bicycle lock and a debtor note was pasted on the wall outside the unit.
Through investigation and with the aid of images from police cameras, officers from Bedok Police Division established the identity of the three youths and arrested them along Macpherson and Potong Pasir on 31 January 2019. Preliminary investigations revealed that the three youths are believed to be involved in other similar cases of loanshark harassment at Bukit How Swee and Jurong East housing estates.
The 17-year-old youth will be charged in court on 4 February 2019 under the Moneylenders Act (2010 Revised Edition). Police investigations are ongoing against the other two youths. Under the Moneylenders Act (2010 Revised Edition), 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 5 years and mandatory caning of up to 6 strokes.
Members of the public are advised to steer clear from all forms of loansharking-related activities, and not be tempted by the offer of quick and easy money. Parents are also advised to be mindful of their children’s activities and educate them not to fall prey to these unscrupulous criminals. The punishments for loansharking-related offences are severe, and parents must intervene promptly should their children display tell-tale signs of being under the influence of bad company. 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.
SINGAPORE POLICE FORCE
01 February 2019 @ 5:30 PM