Police have arrested a 45 year-old man for suspected involvement in unlicensed moneylending activities.

On 1 Jul 2010 at about 10.15 pm , through follow-up investigations, officers from Jurong Police Division mounted an ambush and arrested the suspect at Bukit Batok Central. 12 Automated Teller Machine (ATM) cards and several bank transaction slips found in the suspect's possession were also seized as case exhibits. Preliminary investigations revealed that the suspect is a debtor-turned-runner and had facilitated the business of a loanshark by carrying out bank transfers.

The suspect will be charged in Court on 3 Jul 2010 at 9 am for the offence of Assisting Moneylenders under Section 14(1)(b)(i) of the Moneylenders’ Act, Chapter 188. First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender may be fined not less than $30,000/- and not more than $300,000/-, be imprisoned for a term not exceeding 4 years and shall also be liable to be punished with caning with not more than 6 strokes.

Under the amended Moneylenders Act 2008, where a bank account or automated teller machine (ATM) card of any person is proved to the satisfaction of the court, to have been used to facilitate the carrying on of the business of moneylending by an unlicensed moneylender, that person is presumed until the contrary is proven, to have assisted in the carrying on of the business of an unlicensed moneylender. First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender, may be fined not less than $30,000/- and not more than $300,000/-, be imprisoned for a term not exceeding 4 years and shall also be liable to be punished with caning with not more than 6 strokes.

The suspect will be charged in Court 26 on 2 July 2010 for Putting A Person In Fear In Order To Commit Extortion, under Section 385 of the Penal Code, Chapter 224. If convicted, he can be sentenced to an imprisonment term between two to five years and with caning. He will be remanded in Central Police Division for further investigations.

Acting Commander of Jurong Police Division, Superintendent of Police Koh Wei Keong commended his officers for their efforts in clamping down on loansharking activities.