Police arrested a 21-year-old man earlier this afternoon for his suspected involvement in loansharking activities.

On 18 November 2009 at about 2.20pm , following up on information received, officers from Ang Mo Kio Police Division conducted an operation at Ubi Avenue 4 where the suspect was arrested for his suspected involvement in loansharking activities. Loansharking-paraphernalia such as ATM cards, bank transaction slips and mobile phones were also seized from the suspect’s possession. Preliminary investigations revealed that the suspect is believed to be a debtor-turned-runner who had assisted the unlicensed moneylenders by opening bank accounts and carrying out bank transfers.

The suspect will be charged in Court on 19 November 2009 for the offence of assisting in the business of an unlicensed moneylender under the Moneylenders Act 2008.

First-time offenders found guilty of assisting in the business of an unlicensed moneylender may be fined up to $200,000 or imprisoned up to two years or both.