Police arrest two men for involvement in loanshark activities

Police have arrested two men in two separate cases for suspected involvement in loansharking activities, police said in a statement.

On Aug 24, police officers from Ang Mo Kio Police Division arrested a 21-year-old male suspect in the vicinity of Compassvale Street. Preliminary investigation revealed he was involved in loanshark harassment activities on at least 14 units in Yishun, Ang Mo Kio and Sengkang - splashing paint and scrawling loanshark-related graffiti on the walls of HDB blocks.

In the second case, later that day, officers from Ang Mo Kio Police Division received a "'999" call from a resident who spotted a man behaving suspiciously in the vicinity of Hougang Ave 4. The resident detained the suspect before officers arrived shortly after. The 39-year-old suspect was arrested following an interview.

Loanshark-related paraphernalia including a mobile phone believed to contain debtors' records was found in his possession. Preliminary investigations indicate that he is a debtor-turned-runner and had committed harassment by delivering debtors' notes to demand for repayments. He is also believed to have assisted loansharks in their businesses by verifying the particulars of debtors.

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 shall 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.

Commander of Ang Mo Kio Police Division, Assistant Commissioner of Police Keok Tong San, commended his officers for their perseverance and commitment in the fight against loansharking activities. He said, "Police are determined to come down hard on all those who are involved in loansharking activities, regardless of their age or gender."