02 Mar '11, 1pm

Printing firms on guard against helping unlicensed moneylenders

Printing firms on guard against helping unlicensed moneylenders

SINGAPORE : Printing companies are doing thorough checks to ensure their customers are not unlicensed moneylenders. That's because some moneylenders have been using the services of the printing firms to produce leaflets and business cards. Printing firms said they are now wary of helping unlicensed moneylenders conduct business. They said they only offer printing material and their services when they are sure they are not dealing with unlicensed moneylenders. The penalty for abetting unlicensed moneylenders for a first-time offender is up to S$300,000 in fines and a possible four-year jail term. Repeat offenders may be fined up to S$300,000 and jailed up to seven years.

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

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