Latest news with #MoneylendersAct2008
Straits Times
6 days ago
- Straits Times
Police probe 93 people for involvement in unlicensed moneylending
Seven among the 93 had allegedly harassed debtors at their residence. SINGAPORE - A total of 93 people, aged between 13 and 67, are being investigated by the police for their suspected involvement in unlicensed moneylending activities. Their alleged involvement in such activities was uncovered by the police during a week-long operation from July 9 to July 15 by officers from the Criminal Investigation Department (CID) and the seven Police Land Divisions, the police said in a statement on July 17. Preliminary investigations revealed that one person had operated as an unlicensed moneylender and seven people had allegedly harassed debtors at their residence. Forty-three people are believed to be runners who had assisted in unlicensed moneylending activities by carrying out Automated Teller Machine (ATM) transfers. The remaining 42 individuals are believed to have opened bank accounts and provided their ATM cards and personal identification numbers or internet banking tokens to unlicensed money lenders. Investigations are ongoing. Under the Moneylenders Act 2008, a person whose bank account, ATM card or internet banking token is used to facilitate moneylending by an unlicensed moneylender is presumed to have assisted in carrying on the business of unlicensed moneylending. Top stories Swipe. Select. Stay informed. Singapore Fatal abuse of Myanmar maid in Bishan: Traffic Police officer sentenced to 10 years' jail Singapore Man charged over manufacturing DIY Kpods at Yishun home; first such case in Singapore Singapore HSA launches anti-vaping checks near 5 institutes of higher learning Singapore $7,000 fine for eatery chain involved in ByteDance food poisoning case Singapore Bicycle wheel-inspired care model used to improve trauma outcomes in central S'pore Life 11 new entries on Singapore's Bib Gourmand list, including three re-entries at Old Airport Road Singapore NEA monitoring E. coli at Sentosa beaches after elevated bacteria levels delay World Aquatics events Singapore 15 under police probe for sharing Singpass credentials used in scams First time offenders may face a jail term of up to four years, a fine of at least $30,000 and a maximum sum of $300,000 and up to six strokes of the cane. First-time offenders found guilty of acting on behalf of unlicensed moneylenders to commit or attempt to commit any acts of harassment may face a jail term of up to five years, a fine of between $5,000 and $50,000, and between three and six strokes of the cane. Unlicensed moneylenders will to hesitate to carry out dangerous acts of harassment on borrowers and their families, said the police. This includes setting fire to or splashing paint on their residences and locking the gates using chains or bicycle locks to confine the occupants. The police advised the public to steer clear from unlicensed moneylenders and to not work with or assist them in any way. Foreigners found to have borrowed from or convicted for aiding unlicensed moneylenders will have additionally have their student or work passes cancelled and will be deported from Singapore, they added.
Straits Times
04-07-2025
- Straits Times
Bedok unit splashed with sauce, 24-year-old man arrested for loanshark harassment
A 24-year-old man was arrested for loanshark harassment after a residential unit at Bedok North Road had its main gate and door splashed with food sauce. The police said they were alerted to the case on June 30, at about 4.10pm. Through ground enquiries and with the aid of images from police cameras, officers from Bedok Police Division and Central Police Division established the man's identity and arrested him within two days. Preliminary investigations revealed that he is believed to be involved in other cases of loanshark harassment. One mobile phone was seized as a case exhibit. The man will be charged in court on July 4 under the Moneylenders Act 2008. For first-time offenders, the offence of loanshark harassment carries a fine between $5,000 and $50,000, with up to five years in jail and up to six strokes of the cane. The police said they have zero tolerance for loanshark harassment activities. Those who deliberately vandalise properties or cause annoyance and disruption to public safety and security will be dealt with severely in accordance with the law. Members of the public are advised to stay away from loansharks and not work with or assist them in any way. Call the police at '999' if they suspect or know of anyone who could be involved in loansharking activities. Click here to contribute a story or submit it to our WhatsApp Get more of Stomp's latest updates by following us on:
International Business Times
29-06-2025
- International Business Times
Singapore: 20-Year-Old Man Arrested for Suspected Involvement in Loan shark Harassment Cases
A 20-year-old man was arrested on Saturday, June 28, for his suspected involvement in two cases of loan shark harassment. The Singapore Police Force (SPF) said that they were informed about a case of loan shark harassment at a residential unit along Canberra Link on June 23 at about 9.10 pm. The debtor's note was found outside the unit. The Woodlands Police Division officers arrested the man after determining his identity through follow-up investigations and the use of police camera images. The SPF said, "Preliminary investigations revealed that the man was also allegedly involved in another similar case of loan shark harassment." The man will be charged in court under the Moneylenders Act 2008. Loan shark harassment is punishable by a fine of S$5,000 to S$50,000, up to five years in jail, and up to six canings for first-time offenders. The SPF have zero tolerance against loan shark harassment activities. "Those who deliberately vandalize properties, cause annoyance or disrupt public safety, peace and security, will be dealt with severely in accordance with the law," the authority added. The police recommended that the general public must avoid loan sharks and refrain from collaborating or helping them in any manner. If members of the public suspect or know someone who may be involved in loansharking, they can contact the police at '999'.
International Business Times
24-06-2025
- International Business Times
Singapore: 27-Year-Old Man Arrested for Alleged Loan Shark Harassment in Yishun
A 27-year-old man was arrested on Monday, June 23, for his suspected involvement in a case of loan shark harassment. The Singapore Police Force issued a statement saying that they were informed about a case of loan shark harassment at a residential unit along Yishun Street 21 on 31 May at about 7.35 pm. The exterior wall of the unit was splashed with green paint and a debtor's note was found outside the unit. "Through ground enquiries and with the aid of images from Police cameras, officers from Woodlands Police Division established the identity of the man and arrested him on Monday," said SPF. On Tuesday, June 24, the man will face charges under the Moneylenders Act 2008 in court. Loan shark harassment is punishable by a fine of S$5,000 to S$50,000, up to five years in jail, and up to six canings for first-time offenders. The authority concluded, "Police have zero tolerance against loan shark harassment activities. Those who deliberately vandalize properties, cause annoyance or disrupt public safety, peace and security, will be dealt with severely in accordance with the law." The police advised the public to avoid loan sharks and refrain from collaborating or helping them in any manner. If members of the public suspect or know someone who may be involved in loansharking, they can contact the police at '999'.
Straits Times
24-06-2025
- Straits Times
27-year-old man arrested for loanshark harassment in Yishun: 'Next time you won't be so lucky'
27-year-old man arrested for loanshark harassment in Yishun: 'Next time you won't be so lucky' A 27-year-old man has been arrested for his suspected involvement in a case of loanshark harassment in Yishun. The police said in a statement that they were alerted on May 31 at about 7.35pm to a case of loanshark harassment at a Yishun Street 21 residential unit. The exterior wall of the flat had been splashed with green paint, and a debtor's note was found outside the unit. PHOTO: SINGAPORE POLICE FORCE It read: "O$P$. This time is just a warning, next time you won't be so lucky." Officers identified and arrested the man on June 23. He will be charged in court on June 24 under the Moneylenders Act 2008. For first-time offenders, the offence of loanshark harassment carries a fine between $5,000 and $50,000, imprisonment of up to five years and caning of up to six strokes. Click here to contribute a story or submit it to our WhatsApp Get more of Stomp's latest updates by following us on:
