104 arrested for loansharking activities in police blitz
The 81 men and 23 women were arrested in a three-day islandwide operation, the Singapore Police Force says.
Posted 02 Jun 2016 14:02
SINGAPORE: A total of 104 suspects – the youngest aged 18 and the oldest 72 – have been arrested for their involvement in loansharking activities, the Singapore Police Force (SPF) said on Thursday (Jun 2).
The 81 men and 23 women were arrested in a three-day islandwide blitz, the police said. Between Monday and Wednesday, officers from the Criminal Investigation Department (CID) and the six police divisions conducted simultaneous raids at multiple locations in Singapore.
Four suspects are believed to be loanshark runners who carried out ATM transfers or obtained ATM cards for the syndicates’ usage, the police said. Another three suspects are believed to have harassed debtors by splashing paint and scrawling loanshark-related graffiti on walls.
One suspect was arrested for providing false contact information when obtaining loans from loansharks. The suspect, who failed to report his change of address, will be investigated under the National Registration Act, SPF said.
The remaining 96 suspects are believed to have opened bank accounts and given away their ATM cards and PINs to loansharks.
Under the Moneylenders’ Act, a person is presumed to have assisted in unlicensed moneylending when his bank account or ATM card is used by an unlicensed moneylender.
Investigations against all the suspects are ongoing, the police said.
First-time offenders found guilty of assisting in unlicensed moneylending face up to four years’ jail, a fine of between S$30,000 and S$300,000 and up to six strokes of the cane. Those found guilty of acting on behalf of an unlicensed moneylender, committing or attempting to commit any acts of harassment, face up to five years’ jail, a fine of between S$5,000 and S$50,000, and between three and six strokes of the cane.
Anyone found guilty of providing false contact information to obtain loans from loansharks may be jailed for up to 12 months. Under the National Registration Act, anyone found guilty of failing to report a change of address face up to five years’ jail, a fine of up to S$5,000, or both.
- CNA/cy
