Police have arrested a 39 year-old man for suspected involvement in loansharking activities.

On 19 September 2010 at about 10.30 pm, acting on information received, officers from Ang Mo Kio Police Division mounted an operation and spotted the suspect at Woodlands Ave 5. Upon a check, several bank transaction receipts, ATM cards, handphones and SIM cards were found in the suspect's possesion and seized as case exhibits. The suspect was subsequently placed under arrest for suspected involvement in loansharking activities. Preliminary investigation revealed that the suspect is believed to be a debtor-turned-runner and had assisted the loanshark by issuing and collecting loan repayments.

The suspect will be charged in Court on 21 September 2010 under the Moneylenders Act (Revised Edition 2010). First time offenders found guilty of assisting in carrying out 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.

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