2 women arrested for alleged loanshark activities

SINGAPORE - Police have arrested two women, aged 26 and 27, after a successful ambush on them in Punggol Central on Tuesday.

The women are believed to have assisted loansharks by collecting ATM cards and carrying out electronic fund transactions via Automated Teller Machines (ATM).

Investigations against both suspects are on-going.

First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender may be fined between $30,000 and $300,000, be imprisoned for a maximum of four years, and may also be given up to 6 strokes of the cane.