Written answer by Minister for Law, K Shanmugam, to Parliamentary Question on the fines on licensed moneylenders

15 Oct 2012 Posted in Parliamentary speeches and responses

Mr Chen Show Mao, Aljunied GRC

Question
To ask the Minister for Law in each of the years from 2009 to 2011 and from January to September 2012 (a) what is the number of fines imposed on licensed moneylenders as a result of enforcement actions; and (b) what is the average amount of such fines for the respective periods.

Written Answer
In 2009 and 2010, there were no licensed moneylenders convicted in court, and thus there were no fines imposed on licensed moneylenders during the period. In 2011, three licensed moneylenders were convicted for 38 counts of moneylending offences, and were fined an average of $6,605 per count. From January to September 2012, four licensed moneylenders were convicted for 12 counts of moneylending offences, and were fined an average of $6,500 per count.

Last updated on 22 Nov 2012