Man arrested for involvement in loansharking activities

SINGAPORE - A 39-year-old man was arrested for involvement in loansharking activities.

The suspect had given away his ATM card and Personal Identification Number (PIN) to a loansharking syndicate to facilitate unlicensed moneylending, investigations showed.

He was arrested in the vicinity of Hougang Avenue 9 at about 4.35pm on Aug 17.

If found guilty of assisting in the carrying on of the business of an unlicensed moneylender, he faces a fine of between $30,000 and $300,000, a jail term of up to four years and up to six strokes of the cane.

ysheryl@sph.com.sg