2 women arrested for alleged loansharking
AsiaOne
Thursday, Jun 20, 2013
SINGAPORE - The police have arrested two women, aged 43 and 66 years old, for suspected involvement in loansharking activities in two separate cases.
In the first case, police officers acting on video footage obtained from the Police Camera (Polcam) conducted extensive investigative probes to establish the identity of the suspect.
On June 20 at about 8am, the officers arrested a 43-year-old woman in the vicinity of Circuit Road.
Preliminary investigations indicate that she is believed to be a debtor-turned-runner who has committed several cases of loanshark harassment by splashing paint at debtors' units and scrawling loanshark-related graffiti on the walls.
She is also believed to have assisted loansharks in their businesses by carrying out electronic fund transactions via Automated Teller Machines (ATM).
In the second case, police officers arrested a 66-year-old woman in the vicinity of Hougang Ave 9 on June 20 at about 5.55 pm.
Preliminary investigations indicated that the suspect had given away her ATM cards and Personal Identification Number (PIN) to a loansharking syndicate to facilitate the business of unlicensed moneylending.
The suspect in the first case will be charged in Court on June 21 and investigations against the other suspect are ongoing.
Under the Moneylenders' Act (Revised Edition 2010), first-time offenders found guilty of acting on behalf of an unlicensed moneylender, committing or attempting to commit any acts of harassment can be jailed up to five years, fined between $5,000 and $50,000, and shall also be liable to caning of not less than three and not more than six strokes.
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 between $30,000 and $300,000, jailed up to four years and shall also be liable to be punished with caning of not more than six strokes.
Acting Commander of Ang Mo Kio Police Division, Superintendent Leon Chan, commended his officers for their policing work.
He said, "The police are determined to come down hard on all those who are involved in loansharking activities, regardless of their age or gender."
