LOAN-SHARK runners are getting bolder, veering away from merely splashing paint on doors and walls to, now, torching cars.
The latest incident in Choa Chu Kang where a car was set on fire in a multi-storey carpark on Oct 13 has raised concerns that their vindictive acts have moved beyond harassment into possibly inflicting injury.
It is believed to be the first time loan-shark runners have committed such an act.
MPs told my paper that enforcement against loan-shark activities and the practice of installing closed-circuit TV cameras outside residential units are driving loan-shark syndicates to think of fresh tactics.
Mr Baey Yam Keng, an MP for Tanjong Pagar GRC, said:
"The common practice of paint-splashing is not enough for them now, as many commonly targeted areas have had surveillance cameras set up, so they have to change their tactics."
Madam Halimah Yacob, an MP for Jurong GRC, said the recent case is a sign that loan-shark runners are becoming more aggressive in trying to get their message acrosS
She said: "They're just testing the limits to see how much more they can do, in order to frighten and threaten those who borrow money from them."
Mr Alvin Yeo, chairman of the Government Parliamentary Committee for Home Affairs and Law, said that loan-shark syndicates may be "bullying" their runners into taking on dangerous tasks.
He said: "The runners could be people who are in debt."
He added that the loan sharks may be forcing their runners to take on such tasks, which pay more than merely splashing paint.
The Moneylenders Act, which has been amended thrice, in 2005, 2008 and in February this year, has led to enhanced penalties for those convicted of loan sharking-related harassment activities.
Anyone found guilty of such harassment activities may be imprisoned for up to five years and fined up to $50,000.
If damage is done to property, those convicted may receive between three and six strokes of the cane.
There were 8,654 unlicensed money-lending and harassment cases in the first half of this year, a drop from 9,424 cases in the same period last year.
However, 789 people were arrested for such cases in that period this year - that is almost double the 419 arrested in the period last year.
While it may be too soon to say if torching cars is the start of a new trend, Mr Yeo said: "We should try to be one step ahead, but sometimes it is impossible to know exactly what they're going to do."
In the recent case, two Singaporean men, aged 30 and 35, were arrested over the past week for setting fire to a car at a multi-storey carpark in Choa Chu Kang North 5. Two other cars nearby were also damaged.
Preliminary investigations revealed that both suspects were working for an unlicensed money-lending syndicate. They are believed to have been involved in several other loan shark-related harassment cases island-wide.
Criminal Investigation Department director Ng Boon Gay said: "Such callous acts that blatantly disregard our laws and endanger the safety of the public cannot be condoned. The police will take swift action to hunt down these criminal elements and deal with them to the fullest extent of our law."
Retired police investigator Lionel De Souza told my paper that loan-shark runners are "puppets, and the puppeteers are the top guys whom, perhaps, the police have not identified".
He said that there is a hierarchy in these syndicates and that those calling the shots could well be the bosses of clean and legal businesses.
"As a result, the top man who is responsible is extremely hard to track down," said Mr De Souza.
Ultimately, it boils down to the way people here manage their money.
Mr Baey said: "People have to be more prudent in their spending so that they don't end up having to borrow from loan sharks. In a way, we have to curb the demand for their services."
--------------------------------------------------------------------------------------------Suganthi....
After reading this article above, a thought which cross my mind was what causes loan sharks to exists in Singapore.Why people borrow money from this people knowing it's illegal and the consequences for not able to pay the money back will be unbearable...this story really shows that the loan sharks are getting bolder in their acts as they are sure that more and more people are borrowing money and have fear on them...Previously loan sharks throw paints, threaten the people to return but now one step above by setting the cars on fire..This is indecent criminal act.
In my opinion, loan sharks should be punished severely by law. They must suffer and know what is the disturbance they cause by vandalizing public property. Not only that, some people who borrow money from loan sharks end up committing suicide when they are unable to pay the money...A Lot of problems are caused and the loan sharks harassment cases have increased...
The government should really increase the punishment and educate people to save money or try to get financial assistance from government if they are in the need rather than borrowing from loan sharks... This people will caused nightmares and you will never be peaceful...
Jane Cheong....
This article is happen in Chao Chu Kang on 13 Oct 2010. A car was set on fire in a multi-storey car park. Recently, loan-shark runners are getting bolder, veering away from merely splashing paint on doors and walls.
What is loan-shark? A ‘loan shark’ is anyone who is lending money without having a licence from the Office of Fair Trading (OFT). They charge extremely high rates of interest and also add other 'charges' to loans whenever they want. If payments are missed, they often use threats and violence to get more money.
Everyone know that borrow money from loan-shark is not a wise decision. If you faced financial difficulties, loan-shark is not the only ways to solve the problems. First, you can get advice over the phone or face to face. There are many organisations offer free and impartial advice on debt problems. If you need help managing your debt, find out where you can get support by telephone or in your local area.
In my opinion, you can borrow money from family and friends. But they too have money to loan is very low. Besides, you can also take one of your precious items to a pawn shop if you think you can pay it back at a later time. I feel that the loan-shark runner and the bosses are cruel and cold-hearted person. In this article, I learn that we have to cultivate spending habit and track our money flow so that we can have a stable financial affair.
Melissa Tang.... :))
I totally agree with what this whole article is talking about. After reading this article, I feel strongly about loan sharks as recently, my neighbour encountered loan sharks problems too. Just last week, my neighbour's door was splashed by red paint. However, they did not borrow money from loan shark, so it was not their fault. It was the previous owner of the house that owed the loan shark. Hence, they immediately called the police and they arrived at about 1am. The police took down their statements and advised them to install a doorbell that will ring whenever people walk pass by your doorstep or install a surveillance camera. To play safe, our neighbour did both. Unfortunately, you can say it was of no use. A few days ago, our neighbour's door was splashed by paint again. Hence, they went to playback the tape captured by the camera, however, they could not see anybody's face. They only saw a splash of paint coming from the stairway, then splashing towards their house. Therefore, the police said that maybe they knew there was camera, so they stood at the stairway to hide their faces. Thus, I really feel that it may be due to surveillance camera that loan sharks are getting bolder, and in addition, surveillance camera is of not much use too.
Hence, I feel that the government should really stop all this. I feel that all this is getting too much as recently a car was burned down by runners as stated in the article. Furthermore, my house was splashed by sand everywhere at the door too. I think the runners are also disturbing the debtor's neighbour so that more people will press him to faster pay up. Therefore, I strongly feel that the government should increase the punishment so that they will not dare to come up with any bolder tactics anymore. Who knows what will they do next? It is really scary to predict what they will do next. In addition, the government should educate people how to manage their money and finances well so that they would not get into debts. Furthermore, the government also should educate people that loan sharks are never the first option when you are in debt. It will be your option only when you can pay them back. Those people who are in debt should approach their family or friends, or further financial assistance from the government.
In conclusion, I feel that we ourselves should manage our money and finances well and most importantly save aside a set of money for emergency. In this way, we would never get into any debts in any situations and these loan sharks problems will not happen to us. If everyone can do that, loan shark problems will definitely decrease and they would subsequently stop all their bold tactics too. Hence, money management is really important.
Wei Hong...
Well, those who have loan their money from the loan shark should already be prepare such thing will happen isn’t it? Didn’t this kind of scenario have been heard before? If so, then why are they still borrowing from them? It may be because of the sudden problem arises between the household, but I think everything should be able to resolve within the household.
Loan shark have been bold since forever, if they lend their money and unable to take their money back, why do they still want to do this illegal stuff? Of course they would want to get back their money. I personally think that it is not a wrong thing to get what you owe back, but not through this sort of way. Harassing and destroying property of the person loaning is just causing trouble to the surrounding people as well. For example, if you burn the car, what about the car park beside it? Wouldn’t it get burn too?
And what does catching the loan shark runner help? The main thing is the boss, if the boss is not arrest, same sort of thing will definitely happen again. But it is definitely out of the control of the police, as they cannot be at all the place anytime you want them to be. In the end, it is basically just a mutual thing between the loaner and the loan shark. Loan shark may be trying to offer you a loan, but if you reject them I do not think they will be able to force you to loan, isn’t it?
So to conclude, it is all up to our own to decide what will happen to us, you choose your own path and you bear the consequences. It has always been like that in this society.
Randy Ang....
What is an honest living to you? Going about stealing things? Gambling? You might think that i'm going out of point, but whether u know it or not, this are one of the beginnings of borrowing money from loan sharks.
If u were to ask me, i would rather be a toilet cleaner than a person who roams around the streets borrowing money from loan sharks. The reason goes back to my first sentence, living an honest life.
Borrowing money from loan sharks and they coming after you for money are totally two different scenarios. Not returning loan sharks their money would result in a 'controversy'. As generations pass, loan sharks are getting even bolder for ways and means to get back their money. The recent incident was the splashing of paint on doors and the torching of cars in carparks.
Everyone of us would point our fingers to the government in this case and may be the police. Are the police really doing their jobs, or are these loan sharks really too violent and too much for the police to handle?
In my opinion, the police are in the wrong for not commiting to their job to protect the welfare of the country. A minute or even a second late is very crucial to the survival of the citizens or their assets and a second late could result in a drastic turn of events. On the contrary, it is also wrong for the loan sharks to damage other's property or even commit arsen.
It is a humans nature to be afraid and fear for his life rather than the life of other's first. But with this said, there is certainly no excuse for taking anything for granted, which leaves me with my favourite quote: Treasure everything in your life, before it is gone.
Randy Ang :D
