Criminal Law

Criminal Law: The Moneylenders’ Act and the Lending of ATM Cards

Written by Team Farallon | June 4, 2015

Under the Moneylenders’ Act (Revised Edition 2010)(Cap. 188) of Singapore (the “Act”), when a bank account or ATM card of any person is used to facilitate moneylending by an unlicensed moneylender, that person is presumed to have assisted in the carrying on the business of unlicensed moneylending.

– First-time offenders found guilty of assisting in the business of unlicensed moneylending may be fined not less than $30,000 and not more $300,000, be imprisoned for a term not exceeding four years and shall also be liable to be punished with caning not more than 6 strokes.

– First-time offenders found guilty of acting on behalf of an unlicensed moneylender, committing or attempting to commit any acts of harassment shall be punished with imprisonment for a term not exceeding 5 years, a fine of not less than $5,000 and not more than $50,000, and shall also be liable to caning of not less than 3 and not more than 6 strokes.

Our criminal lawyers have successfully represented the following accused persons who were charged under the Moneylenders’ Act:

 

 

 

 

 

 

 

 

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