The Police have arrested a 37-year-old man for his suspected involvement in loansharking activities.
On 31 March 2018, the Police were alerted to a case of loanshark harassment at a residential unit along Woodlands Drive 50. The victim informed that a man had visited the house and passed him an envelope containing a debtor's note. Through extensive ground enquiries and the aid of images from Police Cameras, officers from Jurong Police Division established the identity of the man and arrested him at along Rivervale Drive on 1 April 2018.
Preliminary investigations suggest that the man is involved in other cases of loanshark harassment island-wide. He is believed to have used his personal Automated Teller Machine (ATM) card, as well as obtain ATM cards with Personal Identification Numbers (PINs) from other debtors to facilitate illegal transactions.
The man will be charged in court on 2 April 2018 under the Moneylenders Act 2010 (Revised Edition). Under the Moneylenders Act (Revised Edition 2010), first time offenders found guilty of loanshark harassment shall be fined not less than $5,000 and not more than $50,000 with mandatory imprisonment of up to 5 years and mandatory caning of up to 6 strokes. First-time offenders found guilty of carrying on the business as an unlicensed moneylender or assisting in the business of unlicensed moneylending may be fined not less than $30,000 and not more $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning not more than 6 strokes.
Source: Singapore Police Force