Police have arrested a 32-year-old man for suspected involvement in loansharking activities.

On 18 August 2010 at about 3pm , through follow-up investigations in relation to a case of loanshark harassment, officers from Ang Mo Kio Police Division mounted an ambush in the vicinity of Blk 101 Ang Mo Kio Ave 3. The officers were spot-on and sighted the suspect shortly after. As the officers approached to conduct a search on the suspect, he attempted to flee but to no avail as the Police closed in on him.

Upon his arrest, several ATM cards, handhones believed to contain debtors' records and cash amounting to $1500/- were found in his possession and seized as case exhibits. Preliminary investigations indicated that the suspect had assisted a loanshark in his business by collecting repayments and carrying out bank transfers. Investigations are on-going.

Under the Moneylenders Act (Revised Edition 2010), 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.

Commander of Ang Mo Kio Police Division, Deputy Assistant Commissioner of Police Hsu Sin Yun, commended his officers for their good investigative follow-up and efforts in clamping down on loansharking activities.