08 Feb '11, 11am

Youths nabbed for suspected loansharking involvement: SINGAPORE: Fourteen youths, mostly students, were arrested...

SINGAPORE: Fourteen youths, mostly students, were arrested for their suspected involvement in loansharking activities. They were rounded up in a two-day island-wide operation. Police said their preliminary investigations revealed that the suspects had opened bank accounts and gave their Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) to loansharking syndicates in order to earn some pocket money. Investigations into all the suspects are on-going. Commander of Jurong Police Division Florence Chua advised students not to be tempted into making a quick buck by such illicit means. She said the act of surrendering one's bank account to unlicensed moneylenders not only facilitates the unlicensed moneylenders' operations, but also helps these illegal syndicates avoid police detection. She warned that the police will not hesitate to take stern action...

Full article: http://www.channelnewsasia.com/stories/singaporelocalnews...

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