LOAN SHARKS (Number and profile)

LOAN SHARKS

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(Number and profile): **

1.

Assoc. Prof. Ong Soh Khim asked the Minister for Home Affairs (a) how many cases of illegal money lending and harassment by loan sharks have been reported over the first six months of 2005; (b) how many loan sharks have been arrested in the first six months of 2005 for these activities; (c) what are the profiles of these loan shark runners and syndicate leaders with respect to age, gender, education level and nationality; and (d) what are the profiles of the victims with respect to age, gender, education level and nationality.

Mr Wong Kan Seng: For the first six months of 2005, 3,640 cases of illegal money lending and harassment by loan sharks have been reported. 190 loan sharks were arrested in the first half of this year.

Based on the age and nationality profile of loan sharks arrested in the first six months of this year, a typical loan shark is a young male Chinese. 70% are between 20 and 34 years of age; 95% of them are male; and 98% are citizens or permanent residents. The educational profile of the loan sharks arrested is not available.

As for victims who reported loan shark harassment, 56% are of age 40 years and above; 65% are male; and 93% are citizens or permanent residents. The educational profile of the victims is not available.

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