More than 50 % increase in loanshark
arrests
The number of people arrested for loanshark related activities
increased by more than 50 percent in the first quarter of this year
compared to the same period last year.
Police described this increase as ' significant ' and said the
number of harassment cases related to such activities has also been
on the rise.
Nearly 4000 cases of harassment were seen in the first three
months, about double that for the same period last year.
At a media conference today, police gave an update on its
biggest arrest on loansharks made this year.
Just this morning, police busted a group of 19 Singaporeans - 18
men and one woman - believed to be involved in such activities.
The suspects, aged between 19 and 40 years old, are believed to
have some 5000 debtors and responsible for nearly 500 cases of
harassment.
Head of Specialised Crime Division, Deculan Goh .
"Police carried out an 8 hour operation last night, targetting
more than 7 locations and arrested syndicate members that included
the syndicate leader as well as the loanshark runners."
First time offenders found guilty of operating a business as an
unlicensed moneylender could be fined up to 200 thousand dollars
and jailed for 2 years or both.
Repeat offenders could also be fined up to that amount and
jailed up to five years.
Those who are found guilty of loanshark harassment could be
fined up to 40, 000 dollars and / or jailed up to 3 years.
--938Live
