Two women arrested for involvement in loansharking activities
Published on Feb 12, 2014 9:28 PM
Two women have been arrested by the police for suspected involvement in loansharking activities.
At about 5.30pm on Feb 11, officers from the Ang Mo Kio Police Division conducted an ambush and arrested the women, aged 26 and 27, around Punggol Central. Preliminary investigations found the suspects were debtors who are believed to have helped loansharks by collecting ATM cards and making electronic fund transactions via Automated Teller Machines.
Investigations are still ongoing. Under the Moneylenders Act, first-time offenders found guilty of helping carry on the business of an unlicensed moneylender may be fined between $30,000 and $300,000, be jailed for not more than four years, and be liable for six or fewer strokes of the cane.
Commander of Ang Mo Kio Police Division, Assistant Commissioner of Police Keok Tong San, commended his officers on their efforts in the fight against loansharking activities, and added that the police will come down hard on anyone involved in loansharking activities, regardless of their age or gender.