58-year-old woman arrested for loanshark activities

SINGAPORE - A woman, 58, has been arrested on suspicion of being involved in loansharking activities.

She was arrested during a patrol on July 13 at Clementi Avenue.

Police found on her more than $4,000 in cash, 10 Automated Teller Machine (ATM) cards, a bank account book, several pieces of bank transaction receipts and two mobile phones.

Preliminary investigations revealed that the woman was a debtor-turned-runner and is believed to have assisted loansharks in their business by conducting bank transfers.

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 maximum of four years, and may be given up to six strokes of the cane.

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