If I asked you to picture a loan shark, you’d likely think of a man in his 40s with an excessive supply of eggs.
The last person you’d picture is a 13-year-old.
After all, it’s hard to intimidate your victims when your voice is cracking and your muscles haven’t developed yet.
13YO: Pay up or be prepared to meet my fists
Victim: Aww, so cute. Is it Halloween or something?Â
13YO: This is Singapore leh, we don’t celebrate Halloween. I’m serious, pay up! You owe me money!
Victim: Aiyo, you’re really trying your best to be scary, huh? Need some extra eggs?
It’s hard to believe, but a 13-year-old really was arrested recently for loan shark activities.
316 People Arrested For Loan Shark Activities, Including A 13YO
The young teenager was among 316 people arrested for their suspected involvement in loan-sharking activities, the police said in a media release on Tuesday (9 Feb).
The individuals were apprehended during a three-week operation with simultaneous raids across the country.
The raids involved officers from the Criminal Investigation Department and seven police land divisions.
A total of $52,000 in cash and items such as phones and prepaid SIM cards were seized during the operation.
Of the 316 suspects, 33 had allegedly harassed debtors’ at their place of residence.
Preliminary investigations also revealed that 68 of the suspects are believed to be runners who helped loan sharks by carrying out ATM transfers.
And as for the remaining 215 suspects?
They are believed to have opened bank accounts and provided their ATM cards, personal ID numbers, or Internet banking tokens to loan sharks to facilitate their unlicensed moneylending businesses.
Investigations against the suspects are still ongoing.
Lending ATM Cards to Loan Sharks Can Land You in Jail
Many residents may not be aware of this, but simply letting your ATM card be used by a loan shark for his business can land you behind bars.
Under the Moneylenders Act, if you allow your bank account, ATM card, or Internet banking token to be used to facilitate activities of an unlicensed moneylender, you are presumed to have assisted in the business’ operations.
Even if you’re a first-time offender, you could be jailed for up to four years and receive up to six strokes of caning. If you manage to escape jail time, you could still be fined between $30,000 and $300,000.
The offence of acting on behalf of an unlicensed moneylender, or committing or attempting to commit any acts of harassment carries a fine of between S$5,000 and S$500,000, or a jail term of up to five years and six strokes of the cane.
So, if you’re a 13-year-old and someone offers you the opportunity to join a loan shark business, politely decline, and do your homework.
Would you be jailed for being half-naked in public? Well, the answer will shock you. Seriously. Watch this to the end and you'll understand:
