SINGAPORE: Police have arrested two men aged 28 to 33 years old for suspected involvement in loansharking activities.

At about 9.30 am on Wednesday, officers from Ang Mo Kio Police Division arrested the duo on suspicion of assisting in an unlicensed moneylending business.

Police said an ATM card and a stack of ATM transaction receipts were found on them and seized for investigation.

First-time offenders found guilty of assisting in carrying on an unlicensed moneylending business may be fined up to S$200,000/- or imprisoned up to two years or both. - CNA/vm