Police arrested a 22 year-old man for suspected involvement in loansharking activities yesterday.

On 17 March 2010 at about 10.50 pm , while officers from Ang Mo Kio Police Division were conducting anti-crime rounds in the vicinity of Rivervale Plaza , they spotted a man behaving suspiciously at an Automated Teller Machine (ATM). The officers decided to conduct a check on him and found him to be in posession of several ATM transaction receipts and ATM cards. He was subsequently placed under arrest for suspected involvement in loansharking activities. The ATM cards and ATM transaction receipts were also seized for investigations.

Preliminary investigations revealed that the suspect had assisted the loansharks to carry out fund transfers.

The suspect will be charged in Court on 19 March 2010 for assisting in carrying on an unlicensed moneylending business under the amended Moneylenders Act 2008.

First-time offenders found guilty may be fined not less than $30,000/- and not more than $300,000/- and be imprisoned for a term not exceeding 4 years. They shall also be liable to be punished with caning with not more than 6 strokes.