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We are really world smartest Nation...a 15yr old sinki is probed by Mata for vebturung Moneylending Business startup?
- Thread starter k1976
- Start date
15-year-old among 122 people under probe for suspected involvement in unlicensed moneylending activities
They allegedly conducted harassment activities, acted as runners, or supplied personal bank accounts to unlicensed moneylenders.
SINGAPORE — A 15-year-old is among 122 people under police investigations for suspected involvement in unlicensed moneylending activities.
The Singapore Police Force (SPF) said in a news release on Thursday (4 April) that the investigations came after a suppression operation conducted from 22 to 28 March. The seven-day operation saw officers from the Criminal Investigation Department as well as seven police land divisions conduct simultaneous raids islandwide.
Preliminary investigations revealed that 17 people had allegedly conducted harassment at the residences of debtors. Meanwhile, 45 people are believed to be runners who had assisted in unlicensed moneylending businesses by carrying out ATM transfers.
The remaining 60 people are believed to have opened bank accounts and provided their ATM cards, personal identification numbers and/or internet banking tokens to unlicensed moneylenders to facilitate their unlicensed moneylending businesses.
Police investigations are ongoing.
What are the penalties for moneylending activities?
Under the Moneylenders Act 2008, when a bank account, ATM card or internet banking token of any person is used to facilitate moneylending by an unlicensed moneylender, that person is presumed to have assisted in carrying on the business of unlicensed moneylending.First-time offenders found guilty of the offence of carrying on or assisting in a business of unlicensed moneylending can be punished with a jail term of up to four years, a fine between $30,000 and $300,000, and caning of up to six strokes.
Public urged to stay away from unlicensed moneylenders
The police has advised the public to stay away from unlicensed moneylenders to avoid the vicious cycle of harassment, and not to work with or assist them in any way.Unlicensed moneylenders will not hesitate to carry out persistent and dangerous harassment acts on the borrowers and their families, such as setting fire and splashing paint at their residences, and locking the gates using chains or bicycle locks to confine the occupants," it said.
The public can call the police at ‘999’ or the X-Ah Long hotline (1800-924-5664) if they suspect or know of anyone who could be involved in unlicensed moneylending activities.
Its obvious. PAP will not issue money lending license.
Isn't it obvious it's a race without social conscience?
Sex or not?
Transformer kym?
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