C
Cao Cao
Guest
Dec 21, 2010
CLAMPING DOWN ON LOANSHARKING ACTIVITIES
16 loanshark aides arrested
By Vanessa Jalleh
SIXTEEN people were arrested in an island-wide crackdown on suspected loanshark involvement. Police arrested 10 men and six women, aged between 19 to 66 years old. The suspects have been accused of opening bank accounts and given away their ATM cards and PINs to loansharking syndicates.
Under the Moneylenders Act 2010, where 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, that person is presumed to have assisted in the carrying on of the business of an unlicensed moneylender.
Two of the suspects allegedly conducted bank transfers for the loansharks while another is believed to have carried out harassments. Three of the suspects will be charged in court on Wednesday.
