Police arrested a 39 year-old man for suspected involvement in loansharking activities this morning .

On 18 February 2010 at 7.30 am , through follow-up investigations, officers from Ang Mo Kio Police Division arrested the suspect for suspected involvement in loansharking activities. Preliminary investigations indicated that the suspect, who is believed to be a debtor-turned-runner, had assisted the loanshark by verifying debtors' particulars, conducting checks on debtors' units to ensure that harassments had been carried out, carrying out bank transfers, issuing loans, and collecting loan repayments. In the course of investigation, ATM cards, mobile phones containing suspected debtors' records, identity cards and passport were seized as case exhibits

The suspect will be charged in Court on 19 February 2010 for assisting an unlicensed moneylender to carry out his business under the Moneylenders Act 2008.

First-time offenders found guilty of assisting an unlicensed moneylender to carry out his business could be fined not less than $20,000 and not more than $200,000 or imprisoned for a term not exceeding two years or both.

Commander of Ang Mo Kio Police Division, Deputy Assistant Commissioner of Police Hsu Sin Yun, commended his officers for their good work which resulted in the arrest of the suspect.