The Police have arrested two men, aged 17 and 34, for their suspected involvement in loansharking activities.
Between late 2018 and May 2019, the Police received multiple reports of loanshark harassment letters being sent by post to government establishments, places of worship, and a residential unit where the occupant was not the targeted debtor. Through investigations, officers from the Criminal Investigation Department and various Police Divisions arrested the two suspects on 27 May 2019 and 28 May 2019. Preliminary investigations revealed that the suspects were believed to have mailed letters containing information of alleged debtors to numerous addresses to cause harassment to the alleged debtors and recipients as well as demand repayments to the loansharks.
The 34-year-old suspect will be charged in court on 29 May 2019 for offences under the Moneylenders Act (Revised Edition 2010). Investigations are ongoing against the other suspect.
Under the Moneylenders Act (Revised Edition 2010), first time offenders found guilty of loanshark harassment shall be fined not less than $5,000 and not more than $50,000 with mandatory imprisonment of up to five years, and mandatory caning of up to six strokes.
The Police have zero tolerance against loanshark harassment. Those who deliberately cause annoyance and disruption to public safety, peace and security will be arrested and dealt with severely in accordance with the law.
Members of the public are advised to stay away from loansharks and not to work with or assist them in any way. The public can call the Police at '999' or the X-Ah Long hotline at 1800-924-5664 if they suspect or know of anyone who could be involved in loansharking activities.
Source: Singapore Police Force