92 Illegal Money Lenders Caught

92 nabbed in three-day anti-loansharking blitz. SINGAPORE– An overall of 66 males and 26 ladies, aged in between 17 and 77, were arrested for their suspected participation in loansharking activities after a three-day island-wide operation.

In a declaration on Thursday (July 27), the Police said officers from the Criminal Investigation Department (CID) and 6 Police land divisions had conducted synchronised raids at multiple places in Singapore.

According to the cops, 13 suspects are thought to be runners who performed Automated Teller Machine (ATM) deals on behalf of the loansharks; while three others offered false contact info for the purpose of obtaining loans.

Another 3 suspects are believed to have performed acts of loanshark harassment by sprinkling paint and scrawling loanshark-related graffiti on walls.

The remaining 73 suspects are believed to have actually opened bank accounts and handed out their ATM cards and Personal Identification Numbers (PINs) to loansharks to facilitate their unlicensed moneylending businesses.

Investigations versus all the suspects are continuous.

The Police reiterated that they would continue to take tough enforcement action against those associated with loansharking activities, despite their roles, consisting of those who provide or open away their bank accounts to help unlicensed moneylenders.

The authorities also advised the general public to keep away from loansharks and not to deal with or help loansharks in any way, and call “999” or the X-Ah Long hotline at 1800-924-5664 if they believe or understand of anyone who could be associated with unlawful loansharking activities.