Police have arrested a 44 year-old man yesterday in the vicinity of Yishun housing estate for suspected involvement in loansharking activities.

On 30 January 2010 at about 11.50 pm, while on anti-crime patrol, officers from Ang Mo Kio Police Division spotted a man loitering suspiciously at a POSB ATM in the vicinity of Yishun housing estate. Officers conducted a check and found several ATM cards, handphones and bank transaction slips in his possession. He was subsequently placed under arrest for suspected involvement in loansharking activities. Investigations revealed that the suspect was a debtor-turned-runner and had assisted the loanshark by performing bank transfers.

The suspect will be charged in Court on 1 February 2010 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.