Police have arrested a 40-year-old man for suspected involvement in loansharking activities.

On 20 January 2010 at about 10.00 pm , acting on information received, officers from Ang Mo Kio Police Division arrested the suspect for suspected involvement in loansharking activities at Ang Mo Kio Central. Preliminary investigations revealed that the suspect was believed to have assisted the loanshark by confirming that debtors’ units had been harassed by the loanshark's runners and verifying ATM transaction receipts of debtors to confirm payment had been made to the loanshark. An ATM card, several ATM transaction receipts and a mobile phone containing debtors' addresses were found on the suspect and seized for investigation.

The suspect will be charged in Court on 22 January 2009 for an offence of assisting in carrying on an unlicensed moneylending business under the Moneylenders’ Act 2008.

Persons found guilty of assisting in carrying on an unlicensed moneylending business may be fined not less than $20,000/- and not more than $200,000/ or to imprisonment for a term not exceeding 2 years or to both.