17-year-old girl nabbed for loansharking

Police arrested a 17-year-old girl in Sengkang on Sunday evening, on suspicion of loansharking.

Officers from Ang Mo Kio Police Division tracked down and nabbed the teenager near Compassvale Lane. A few stacks of flyers and name cards, offering 'financial services' were seized as case exhibits.

The suspect is believed to have assisted an unlicenced moneylender by distributing the flyers and name cards. The finance company named in the flyers and name cards is not a registered moneylending firm, said the police in a statement on Monday.

Investigations against the suspect are still on-going but under the Moneylenders Act 2010 (Revised Edition), first-time offenders found guilty of assisting in executing 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 four years and shall also be liable to be punished with caning of not more than six strokes.