Police have arrested a 26-year-old man for suspected involvement in loansharking activities.

On 12 Jan 2010 at about 7.00 pm, officers from Ang Mo Kio Police Division were conducting anti-crime rounds in the vicinity of Hougang Ave 8 when they saw a man behaving suspiciously near an ATM machine. The officers approached the man and conducted a check on him. Several ATM cards, receipts of bank transactions, handphone containing records suspected to be that of debtors' were found in his possession. The man was subsequently placed under arrest for suspected involvement in loansharking activities. Preliminary investigations indicated that the suspect was a debtor-turned-runner who had assisted the loansharks by performing bank transfers.

The suspect will be charged in Court on 14 January 2010 under the Moneylenders Act 2008.

Persons found guilty of operating or assisting in the operating of a loansharking business may be fined not less than $20,000 and up to $200,000 or imprisoned for up to two years or both. Under the Moneylenders (Amendment) Bill which was passed on 12 January 2010, persons found guilty of such offences may be fined not less than $30,000 and up to $300,000 with mandatory imprisonment of up to 4 years and mandatory caning of up to 6 strokes.