Police have arrested three men and a woman aged between 30 and 49 years old for suspected involvement in loansharking activities in three separate cases.

On 25 Jan 2010 at about 11.00 am, acting on information received, officers from Ang Mo Kio Police Division conducted simultaneous raids in Sengkang and Hougang and arrested a woman and a man, both aged 30 years old, for suspected involvement in loansharking activities. Mobile phone, laptop and several ATM cards were subsequently seized for their residences. Preliminary investigations indicated that the two suspects are believed to be debtors-turned-runners and had assisted the loansharks by conducting fund transfers using ATMs.

In the second case, on 25 January 2010 at about 11.15 am, through follow-up investigations, officers from Ang Mo Kio Police Division arrested a 49- year-old man at Chai Chee for suspected involvement in loansharking activities. Preliminary investigations indicated that the suspect is a debtor-turned-runner and had assisted the loanshark by allowing his bank account, ATM card and Personal Identification Number (PIN) to be used for loansharking activities.

In the third case, on 25 January 2010 at about 2.30 pm, while conducting anti-crime rounds, officers from Ang Mo Kio Police Division arrested a 32-year-old man at Ang Mo Kio Avenue 10 for suspected involvement in loansharking activities. Several ATM cards were found in his possession and seized as exhibits. Preliminary investigations indicated that the suspect is a debtor-turned-runner and had assisted the loansharks by carrying out bank transfers and checking on debtors’ units to confirm their addresses.

The two 30-year-old suspects in the first case will be charged in Court on 26 January 2009 for the offence of assisting in the business of an unlicensed moneylender under the Moneylenders Act 2009. Police investigations are still on-going for the second and third cases.

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.