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Task Force Set Up to Deal With Singapore Loan Sharks, Money Laundering

27 April 2005

SINGAPORE -- As reported by News Asia Channel: "An inter-ministry task force has been set up to deal with loan sharks and money laundering.

"Senior Minister of State for Law and Home Affairs, Ho Peng Kee, said the task force would be studying if current laws could be toughened so that money which loan sharks made could be confiscated.

"...The task force will also work with town councils to see if CCTVs can be used to monitor the homes of those who are harassed by loan sharks.

"Community and religious leaders at the one-and-a-half hour dialogue raised concerns about controls at the casino.

"...Participants also expressed concern that entrance rules would be made less stringent if operators run into difficulties.

"The answer was a definite 'no'.

"Mr Lee did not turn down a suggestion to have more integrated resorts, saying it could be considered in five to seven years..."

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