Police have arrested a 31-year-old Vietnamese man earlier today for suspected involvement in loansharking activities.

On 21 July 2010 at about 2.00 pm, officers from Tanglin Police Division were conducting an ambush in the vicinity of Bishan Street 12 when they spotted a man behaving suspiciously. Officers conducted a check on the man and found loanshark-related paraphernalia such as notes, eight cans of paint, three markers and two bicycle locks in his possession. The man was subsequently placed under arrest for suspected involvement in loansharking activities and the items were seized as case exhibits.

The suspect will be charged in Court on 22 July 2010 for offences under the Moneylenders’ Act.

First-time offenders found guilty of acting on behalf of an unlicensed moneylender, committing or attempting to commit any acts of harassment shall be punished with imprisonment for a term not exceeding five years, a fine of not less than $5,000 and not more than $50,000, and shall also be liable to be punished with caning with not more than six strokes.

Commander of Tanglin Police Division, Deputy Assistant Commissioner of Police Koh Yak Leng, commended his officers for their vigilance which resulted in the arrest of the suspect. He added, "Police take a strong stand against unlicensed moneylending activities and will not hesitate to take action against those involved in such illicit activities.”