By Ben Bland from The Telegraph:
The number of people arrested for loan shark activities and harassment doubled to more than 417 in the first half of 2009, with more than 9,000 reported cases of loan shark lending or intimidation reported to the Singapore Police Force.
Contraband smuggling has also hit a six-year high, with an 80 per cent increase in the number of weapons brought into Singapore illegally, including the knuckle-dusters, replica guns and knives that are often carried by loan shark gangs.
The heightened level of violence is a major concern for the government, particularly because of the growing involvement of teenagers in loan shark gangs. One in five of those arrested for loanshark offences between January and June were under 19.
Read the full article on The Telegraph.
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It is important that we don’t always see the borrowers as victims. I had been owed thousands of dollars as well, sometimes by close friends, and these idiots always take friendship for granted. zBelive it or not, one of them is a female church missionary! She borrowed $5k from me in 1998 and I never saw the money again. Sometimes these kind of borrowers need the A-Long style tactics to make them pay!
Wow ! 9,000 reported cases of loanshark lending.
Can I speculate up to x10 go unreported ? That means a lot of folks out there need quick money.
Perhaps NTUC under the guidance of Lim S S should consider starting a legitimate loansharking business. Afterall this govt is involved in running 4-D,
ToTo, Turf Club, Big Sweep, and very soon the IR/ Casino.
The debt collection can be assigned to the men-in-blue or PAP grass-roots members. The lender, borrower and debt collector forming a Tri-Partite.
Wonder if they do a report on bank loan default up or down, the number of house forecloesure forcing people homeless and those that serve jail term being unable to pay up whatever money they owe. The number forced into bankrupcy and unable to leave the country at will and might find difficulties looking for a job because they have to declare. Would they all equal up?
the biggest loan shark rules the ocean (above the law somemore)!! that wan not a concern for the govt? :P
Ironically it costs taxpayers more to catch these loan sharks than to provide micro loans to the poor to tide them over these difficult times.
What to do, this is Singapore, we cannot encourage “crutch mentality” among the peasants. What if government lend them $500 and they use this money for unnecessary travel on public transport, meals in foodcourt, use unnecessary electricity, drink unnecessary water how?
this is worrying, especially since the casinos are opening soon.
i wonder how “safe” singapore will become in a year’s time…
Can someone comfom has the crime rate increased or decreased?
Last heard from reports was…..
Neutrally speaking, and open-mindedly speaking, I would not be surprised if indeed there has been more crimes than the past based on the influx. But then this is just me guess.
As long as people need to borrow money, and they have to get their funds from loansharks, and can’t pay back, there will always be violence.
Wait till the casinos open, then you see.
No job need money so try luck at casino. So desperate, there’s nothing to lose what! Borrow money to make money lah. No other way wat!
New job pay peanuts how to survive? everything go up but salary go down, how?
There has been a shift in policy to consider loanshark harassment as a serious offence to be monitored, hence all cases reported are acted upon promptly – resulting in the ‘wave of violent crime’. Previously, these cases would have been reclassified (i.e. downgraded) and not pursued to the extent it is being now.
This is why the numbers are up, plain and simple. In all probability, the number of people who have turned to loansharks would have increased only marginally. Think of it this way, if you lose your job you’d default on your loans and payments and not go borrowing from loansharks. It’s only the perpetually-troubled folks (e.g. gambling, drinking etc.) who turn to loansharks.
Crime rate going up with casino, tough place to live.
agreed
Many Sporeans live beyond their means. Borrow money to buy big houses (flats/condos) hoping to make big buck when the property market is hot. Many also buy cars which I think they can ill afford. But with 8 years loan period available from banks etc, many jump on the bandwagon and join the crowd. When the economy is good everything is fine. But when times are bad like now, many have to borrow money to make ends meet and to service the loans. When such people are driven against the wall, borrowing from loan sharks would be their best options. No one is to be blamed. But the banks and the authority concerned should make it difficult for people who can ill afford to buy big items to get easy loan. In short, do not make it easy (encourage)people to live beyond their means.
Whatt? Crime in Singapore? You must be kidding me…
13) Retiree on August 13th, 2009 11.13 am
I totally disagree with your view “In short, do not make it easy (encourage)people to live beyond their means.”
Living within your means is something which all of us must adhere to with or without anyone by the side telling you otherwise.
Banks/Finance houses etc are business entities, they WILL always be looking to increase their client base and revenue. It is true in every country for every company.
The only person whom is best suited to decide if you can afford the car or condo or that omega watch is yourself, and no one else.
Even in the most consumer driven countries like USA, we have people who are living within their means and saving. Just google Brett & Sue Heinz. You get the story.
It is silly to blame the fact that credit is available thus, people abuse. If credit is not available then we have another set of problems as legitimate couples cannot receive funding to purchase what they need.
Ultimately it is about personal responsibility, if you cannot distingush between good and bad debt, investment vs consumption. Then in truth no policy in the world can save you.
I know a gentleman working as a security guard obtaining a GE money loan to buy a pair of Tag Heuer watches. Is it the fault of GE money or you are thinking why did he just spend $4k on 2 watches which is equals to his 2.5 months salary?
Alot of people keep saying given a choice, no one wants to be in debt…. but if you are in debt because of hospital bills then it is the flaw of the national policies. If someone is in debt because he bought a maserati and an ardmore park condo, then seriously, you cannot claim this is a failing of the country or policy.
Personal accountability / fiscal responsibility is the key to guide you out of trouble both in good times and bad.
I have never heard of people in my father’s generation accumulating credit card debts….WHY???
Think about it and I think it is time to stop blaming other people and take responsibility for your own actions and decisions.
15) Ace
It takes 2 hands to clap…you need both personal accountability and a credit system that is not as easily to assess compared to the current system to prevent such things from happening
we are humans…when these credit cards company offer credit cards easily to the people, it provides temptation…although we should control and curb those temptation but humans are still imperfect….this easily available credit cards temp them to live beyond their means and there will be those that can’t resist.
comparing now vis-a-vis a decade ago….it is so much easier to get apply and get a credit card. a decade ago, an electronic salesman isn’t eligible for a credit card, but now, they can get it easily with the same wage earning. a decade ago, platinum credit cards are a prestige and it is rare, now it is all over the place. a balance needs to be achieved…credits should be available, but not so easily available…
so this is just like the devil tempting adam and eve to consume the forbidden fruit….the devil is wrong for tempting, but humans can choose and they choose the wrong choice, and they only have themselves to blame….but there are some who are been push into the scenario for survival and in that case, it is hard 2 blame them
Ace #15 – You are free to disagree with my personal view. Indeed, it is individual responsibility to live within one means.
Yamamoto -San #16 – I agree with your views. It takes to clap. Indeed credit facility is quite easy to obtain here, especially credit cards and loans of many kinds. Hence, there will be people who can’t resist them. Many Sporeans assume (think) that when they get into trouble with money problems, the government will help them get out of the rut, which is not the case. I just hope that people will make decisions wisely and assume that everyday will be a sunny day. Bad weather can strike anytime and the current worldwide recession is a good example. I am quite sure, many people who have lost their jobs or may lose their jobs soon will have difficulties paying bills or for that matter find money to put food on the tables.
SAF wash hand on loan sharks already. To them, or PAP, there is no need to get involved if it is not profit generating issues.
why so surprised???
maybe soon the police will be on the side of the loan sharks to harass the victims!!!
if loansharks can count on ah gong to help them of course flourish lah!
wong kan seng was considering making victims punishable u know.
pap won’t stop until all non-elites like u & me are driven to the grave.
ie the elites will move ahead, the ‘nobody’ will be left behind (for dead)
fearandignorance
“I still dun understand what you are trying to prove.”
You don’t understand what I’m trying to prove, but you understand what I was trying to mean in my previous post right.
I’m trying to show that understanding the context in very important in the language we are communicating in. They include, comprehending debate statements and Scientific journals.
“Tell us clearly what you are unhappy with TOE and your supporting evidences.”
I trying put forth in short:
TOE(macro evolution) is not proven so far, which inferno also agree.
Inferno is trying to say that although TOE is not proven with ‘experimental’ rigor of Science, it can be deductively valid like the Atomic Theory.
I do not think there are Scientific journals to ‘proof’ or support the claim that TOE is deductively valid( which is the only plausible explanation)
If you check out my first post. I’m trying to say since TOE is not formally proven. It should not be included in Science class.
Load sharking could exist because the ligitimate source e.g. bank is not available to those poor Singaporean. Without a job ( income) bank would not provide any credit/loan. A catch22. I was a Singaporean who had to renounce my citizenship because dual citizenship is not allowed in Singapore. I voted with my feet in 1974 after NS and worked my way up the academic ladder with hardly any money. Had to work in restarants in the evening to earn pocket money. Graduated with Master degree and join a firm that applied a work permit for me but instead I was granted PR status fellow by citizenship. I had read and watch events back in Singapore and sad to say that the poor is having a hard time. Things seem to be worst then the 60s and 70s although it is fair to say there was no social welfare then. Many people survive by setting up a food stall supporting whole family of 8 or 9 people. I know of one family with 18 children supported by a father running a food stall. I don’t believed it is possible today with the cost of living so expensive. That may explain why married couple is not having children. Beside working life is allot tougher compare to 30-40 years ago.
I know a chap who owes 20 loan sharks at any given time. This fellow is owns a sleazy pub in Katong area and for some reason cannot get his act together to live on the straight and narrow. Bugger has a heart attack and instead of stopping the loan shark problem – he continues to borrow to feed his various mistresses…is this guy encourageable.
Let’s be fair to loan sharks here. They take risk and they do service a section of the community that no one else will lend to. Once the casinos come in you an expect their business to grow.
I like the idea of micro-credit schemes. I mean, people in the 60s and 70s survived by setting up small businesses and we should encourage more entrepreneurship amongst the lower income group. Unfortunately the government hates entrepreneurs (unless they are the entrepreneurs) so we can forget things like micro-loans.
You know…why not think of starting up a micro finance facility? is there one in Singapore? i really think its an idea. Just need to start somewhere….
armageddon! then no problem lor
Let’s see what will happen when IR opens in a couple of years time…I am sure Ah long case will skyrocket…
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To mark (Feb 8, 2010 23:18) & FRED MOORE (Jan 8, 2010 0:30),
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