11 arrested in loansharking blitz

[Zhu Rong]

11 arrested in loansharking blitz
Posted: 30 November 2010 2308 hrs
<table align="right" border="0" cellpadding="0" cellspacing="0" width="260"> <tbody><tr> <td align="right" width="20"></td> <td align="right" width="240">

</td> </tr> <tr> <td height="60" valign="top"></td> <td class="update" height="80" valign="top"> <table border="0" cellpadding="0" cellspacing="0" width="100%"> <tbody><tr> <td bgcolor="#f6f6f6" width="138">Photos </td> <td bgcolor="#f6f6f6" width="47">1 of 1</td> <td bgcolor="#f6f6f6" width="18"><input disabled="disabled" id="btnPrev" value="<< Previous" src="http://www.channelnewsasia.com/images/butt_previous.gif" height="15" type="image" width="18"></td> <td bgcolor="#f6f6f6" width="19"><input id="bntPlay" value="Play - Stop" src="http://www.channelnewsasia.com/images/butt_stop.gif" height="15" type="image" width="19"></td> <td bgcolor="#f6f6f6" width="18"><input disabled="disabled" id="btnNext" value=" Next >> " src="http://www.channelnewsasia.com/images/butt_next.gif" height="15" type="image" width="18"></td> </tr> </tbody></table>

</td> </tr> <tr> <td></td> <td class="update"></td> </tr> <tr> <td></td> <td>
</td> </tr> </tbody></table>
SINGAPORE: Six men and five women were arrested in an island-wide operation ON Monday against loansharking activities.

Police said those arrested were between 18 and 66 years old.

The suspects allegedly opened bank accounts and gave their automated teller machine (ATM) cards and Personal Identification Number (PIN) to syndicates.

Three of them were also said to be runners who harassed clients and made bank transfers.

Two of the suspects will be charged in Court on December 1 under the Moneylenders Act.

Investigations against the other suspects are on-going.

Under the Moneylenders Act 2010, a person is presumed to have assisted in the carrying on of the business of an unlicensed moneylender when a bank account or ATM card of any person is used to facilitate the carrying on of the business of moneylending by an unlicensed moneylender.

If convicted, first-time offenders may be fined between $30,000 and $300,000, jailed for a term not exceeding four years and given a maximum six strokes of the cane.

- CNA/fa