Police have arrested a 20-year-old man for suspected involvement in loansharking activities.

On 21 Jan 2010 at about 8.00 pm , acting on information received, officers from Ang Mo Kio Police Division arrested the suspect at the void deck of Blk 206 Serangoon Central. Several ATM transaction receipts, two mobile phones containing debtor's addresses and two ATM cards were found on him and seized for investigation.

Preliminary investigations indicated that the suspect is a debtor-turned-runner whose role was to assist the loansharks by conducting fund transfers at ATMs and checking ATM transaction receipts produced by debtors to confirm that they had made repayment of their loans. Investigations are on going.

Persons found guilty of assisting in carrying on an unlicensed moneylending business may be fined not less than $20,000/- and up to $200,000 or imprisoned for up to two years or both.