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02 Nov 2019  (363 Views) 
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Ministry of Finance


Get pawnshops to check source of items pawned
In July, I discovered that my domestic helper of five years had stolen my gold wedding jewellery and local and foreign currency from our safe.

She had also borrowed thousands of dollars from moneylenders. I had previously given her a salary advance after she said that her husband had died and she urgently needed money, which turned out to be false.

She was jailed for seven months in September after pleading guilty.

As she had pawned the jewellery at different shops, I hoped to recover some of our losses by reclaiming these stolen items, which were confiscated by the police from the pawnshops.

Post-sentencing, we were appalled to be told by the investigating officer that these pawnshops would still require partial compensation for the pledged items.

Based on the pawn tickets, I learnt that my domestic helper had pawned my jewellery for a total pledge value of $2,730 at one shop, and $1,630 at another. I am aghast at how little due diligence was done by the pawnshops in accepting jewellery from a domestic helper.

It is common knowledge that a domestic helper's monthly salary is typically less than $1,000.

A responsible business should ensure that the items it accepts are obtained legitimately and have not been stolen.

The recent measures put in place to curb moneylending to work-permit holders are the right move.

I hope the authorities should consider requiring pawnbroking businesses to do due diligence before accepting items pawned.

This would protect employers, domestic helpers and the community, as well as instil confidence in pawnbroking as a socially responsible business.

Lam Miin Yee

Source: https://www.straitstimes.com/forum/letters-in-print/get-pawnshops-to-check-source-of-items-pawned


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