Updated: 04/14/2014 20:40 | By Channel NewsAsia
Two-fold rise in arrests for unlicensed money lending
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SINGAPORE: There has been a two-fold increase in arrests for unlicensed money lending and unlicensed money lending-related harassment offences between 2009 and 2013.
In 2009, there were 965 arrests. The number rose to 1,953 in 2013.
Over the same period, the number of reported unlicensed money lending-related cases fell by 55.5 per cent -- from 18,649 cases in 2009 to 8,306 cases in 2013.
Deputy Prime Minister and Minister for Home Affairs, Teo Chee Hean, said this in a parliamentary reply to MP for Jurong GRC, Ang Wei Neng.
Mr Teo also said that while the police and the Registry of Moneylenders do not track the number of complaints relating to SMS advertisements sent by unlicensed moneylenders, both agencies will take immediate action once such information is received. - CNA/ms
