Singapore: Police arrest 3 teenagers for loansharking activities

60-year-old man arrested in Singapore
Singapore teenagers arrested (Representational picture) Pixabay

Three teenagers, aged between 15 and 18 have been arrested by Singapore police for their alleged involvement in loansharking activities.

Police said on a tip off on Monday, April 2 that some loan advertisements had been posted on the walls of HDB blocks along Woodlands Street 31, they launched an investigation to track the culprit.

Using the footages from POLCAM or police cameras, they arrested a 17-year-old suspect from Woodlands Drive 50 on Apr 5. On the same day, officials arrested two more suspects from Jurong West Avenue 5.

Even though police is still investigating the loansharking case, prima facie, it was found that the three individuals were involved in it. Police said in a statement that they would like to advise the youths to steer clear from all forms of loansharking-related activities and should avoid the easy ways to make money.

In addition, they have advised the parents to keep an eye on their children's activities and educate them not to fall prey to these unscrupulous criminals.

Police officials also said that the punishments for loansharking-related offences are severe, and parents must intervene promptly should these youths display tell-tale signs of being under the influence of bad company.

As per the law, first-time offenders can face a fine of between S$30,000 and S$300,000, including a jail term for up to four years and six strokes of the cane.

In 2017, Singapore's Criminal Investigation Department (CID) had launched a three-day operation and arrested 120 people for their involvement in loanshark activities.

If someone has any information about illegal loansharking activities, then they can call the police at 999 or call the X-Ah Long hotline at 1800-924-5664, said the police.