40-year-old man arrested for loansharking activities

SINGAPORE - A 40-year-old man has been arrested by the police for suspected involvement in loansharking activities.

On Jul 15, at around 8.15pm, officers from Clementi Neighbourhood Police Centre (NPC) Crime Strike Force (CSF) were conducting anti-crime duties when they spotted a man behaving suspiciously in the vicinity of Clementi Ave 3.

After interviewing the man, the officers performed a check and found cash amounting to about $13,000, an Automated Teller Machine (ATM) card, a mobile phone and bank transaction receipts in his possession.

The man was subsequently arrested and the items were seized as case exhibits.

Preliminary investigations revealed that the suspect is a debtor-turned-runner. He is believed to have assisted loansharks in their activities by conducting bank transfers.

He will be charged in court on Jul 17 under the Moneylenders Act 2010 (Revised Edition).

If convicted, he faces a fine up to $300,000, a jail term not exceeding four years and will also be liable to not more than six strokes of the cane.