Police have arrested a 29 year-old man yesterday evening for suspected involvement in loansharking activities.

On 26 Aug 2010 at about 8.20 pm, officers from Clementi Police Division were conducting anti-crime rounds in the vicinity of Blk 450 Clementi Avenue 3 when they spotted a man behaving suspiciously at an Automated Teller Machine (ATM). Upon conducting a check on him, the officers found cash of about $600/-, seven ATM cards, a bank transaction slip and 2 handphones in his possession. The suspect was subsequently placed under arrest for suspected involvement in loansharking activities.

Preliminary investigations revealed that the suspect is a debtor-turned-runner and is believed to have assisted loansharks in their business by conducting bank transfers. Investigations are ongoing.

First-time offenders found guilty of assisting in carrying on an unlicensed moneylending business may be fined not less than $30,000 and up to $300,000/- with mandatory imprisonment of up to 4 years and mandatory caning of up to 6 strokes.

Commander of Clementi Police Division, Deputy Assistant Commissioner of Police Melvin Yong, commended his officers for their vigilance. He reiterated that Police will continue to clamp down on such illegal activities and take stern action against those involved.