SINGAPORE - A 59-year-old man has been arrested by the police for his alleged involvement in an unlicensed moneylending syndicate.
Jurong Police Division officers nabbed the suspect at Bukit Batok Central on June 11 at about 6pm.
The suspect is believed to have assisted an unlicensed moneylending syndicate to retrieve Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) from another debtor to facilitate illegal moneylending activities.
During his arrest, a mobile phone and one ATM card were seized as evidence.
Under the Moneylenders Act, first-time offenders who are found guilty may be fined between $30,000 to $300,000, face a prison term of at least four years and may also face a maximum of six strokes of the cane.