The Police have arrested a 21-year-old woman and a 31-year-old man for their suspected involvement in loansharking activities in two separate cases.
In the first case, on 6 Oct 2016 at about 2.40 pm, officers from Jurong Division arrested the woman in the vicinity of Woodlands Avenue 7 for her suspected involvement in loansharking activities. Preliminary investigations revealed that the suspect is a debtor-turned-runner who is believed to have assisted the loanshark syndicates to procure Automated Teller Machine (ATM) cards with Personal Identification Numbers (PINs) from debtors. Two ATM cards, an envelope and one mobile phone were seized as case exhibits.
In the second case, on 6 Oct 2016 at 6.30 pm, officers from Jurong Division arrested the man in the vicinity of Woodlands Avenue 6 for his suspected involvement in loansharking activities. Preliminary investigations revealed that the suspect is a debtor-turned-runner, who is believed to have assisted the loanshark syndicates to procure ATM cards with PINs from debtors. The suspect is also believed to have used his personal ATM card and internet banking account to facilitate unlicensed moneylending transactions. Police seized three ATM cards, a transaction receipt, one banking token and one mobile phone as case exhibits.
Investigations against the suspects for the offences under the Moneylenders Act (Revised Edition 2010) are ongoing.
Under the Moneylenders Act (Revised Edition 2010), first-time offenders found guilty of carrying on the business as an unlicensed moneylender or 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.
Exhibits recoverd for the 1st arrest case
Exhibits recoverd for the 2nd arrest case
SINGAPORE POLICE FORCE
07 October 2016 @ 3:00 PM