Police have arrested three men aged between 25 and 45 years old for suspected involvement in loansharking activities in relation to three separate cases that took place between 12 and 13 July 2010.

On 12 July 2010 at about 2.30 pm, through follow-up investigations, officers from Ang Mo Kio Police Division arrested a 36 year-old man in the vicinity of Ubi Ave 1 for suspected involvement in loansharking activities. Preliminary investigations revealed that the suspect is a debtor-turned-runner and had assisted the loanshark in verifying the particulars of potential borrowers and collecting ATM cards and bank books from borrowers. Upon his arrest, loanshark-related paraphernalia such as bank books, internet banking devices and handphones were seized from the suspect’s possession as case exhibits.

In two other separate cases, on 13 July 2010 at around 12.00 pm, officers from Ang Mo Kio Police Division arrested two men aged 25 and 45 years old in the vicinity of Serangoon Central and Serangoon North Avenue 4 respectively for suspected involvement in loansharking activities. Both suspects are believed to be debtors-turned-runners and had assisted in the business of loansharks by opening bank accounts and allowing their ATM cards and Personal Identification Numbers to be used by loansharks.

Investigations against all the three suspects are still in progress.

Under the 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.

Acting Commander of Ang Mo Kio Police Division, Superintendent Manimaran Pushpanatan, commended his officers for their perseverance and efforts in clamping down on loansharking activities.