A 78-year-old is among 165 people being investigated by the police for suspected illegal moneylending activities. In a statement on Monday, the police said the suspects – aged between 17 and 78 – had been rounded up during an operation conducted between Feb 20 and...
The remaining 95 are believed to have opened bank accounts and provided their ATM cards, personal identification numbers and, in some cases, their Internet banking tokens, to illegal moneylenders.First-time offenders found guilty of carrying on or assisting in a business of unlicensed moneylending can be jailed for up to four years, fined between $30,000 and $300,000, and caned up to six strokes.
Stressing that individuals involved in unlicensed moneylending businesses would be taken to task regardless of their roles, the police said they will continue to take tough enforcement action. Advising the public to avoid unlicensed moneylenders, they reiterated that individuals should not work with or assist them in any way.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
78-year-old among 165 suspects under probe for illegal moneylending activitiesSINGAPORE – A 78-year-old is among 165 people being investigated by the police for suspected illegal moneylending activities. Read more at straitstimes.com.
Read more »
This week's top reads from The Straits Times, Feb 25Catch up on some of the week's top reads. Subscribe to our newsletter here. Read more at straitstimes.com.
Read more »
While You Were Sleeping: 5 stories you might have missed, Feb 26A selection of news stories that happened overnight, Feb 26, 2023. Read more at straitstimes.com.
Read more »
Morning Briefing: Top stories from The Straits Times on Feb 26You are reading the Morning Briefing newsletter. Get the news that prepares you for the day ahead, delivered to your inbox. Subscribe to our newsletter. Read more at straitstimes.com.
Read more »
State of Play Feb 2023: PlayStation dives into Suicide Squad & Resident Evil 4The latest PlayStation State of Play was once again chocked full of content for players on this side of the console divide, and it included several big blockbuster titles alongside a bevvy of PlayStation VR2 additions. The notables ones include an extended look into Suicide Squad: Kill the Justice League, Resident Evil 4, and Street Fighter 6. To help you...
Read more »
Evening Update: Today's headlines from The Straits Times on Feb 26You are reading the Evening Update newsletter. Get up to speed with the important stories from the day. Subscribe to our newsletter. Read more at straitstimes.com.
Read more »