136 arrested in anti-loanshark operations, some believed to be syndicate members

A total of 136 suspects, aged between 17 and 69, were arrested for their suspected involvement in loansharking activities during two separate operations that were conducted by the police.

The police conducted simultaneous raids at multiple locations islandwide in the first operation between Oct 14 and Oct 16, which resulted in the arrests of 78 men and 47 women.

Preliminary investigations revealed that one suspect is believed to have carried out an unlicensed moneylending business, said the police in a statement on Thursday (Oct 17)

Another two suspects are believed to have carried out acts of loanshark harassment by splashing paint and scrawling loanshark-related graffiti on walls.

Meanwhile, 32 of the remaining suspects are believed to be runners who had carried out Automated Teller Machine (ATM) transfers on behalf of loansharks.

Another 89 suspects are believed to have opened bank accounts and given away their ATM cards and Personal Identification Numbers (PINs) to loansharks to facilitate their unlicensed moneylending businesses.

The last suspect is believed to have provided false contact information to obtain loans.

A separate operation, consisting of simultaneous raids at multiple locations island-wide, was also conducted on Oct 16 and resulted in the arrests of 10 men and one woman.

During the operation, items including cash amounting to about $9,640, mobile phones, ATM cards, one internet-banking dongle and bank transaction receipts were seized.

Preliminary investigations suggested that the suspects are believed to be members with various roles in a loansharking syndicate.

Ten men and one woman, aged between 21 and 52, will be charged in court on Friday (Oct 18), while investigations against 125 suspects are ongoing.

First-time offenders found guilty of carrying on or assisting in a business of unlicensed moneylending face a fine between $30,000 and $300,000, a jail term of up to four years, and caning of up to six strokes.

First-time offenders found guilty of acting on behalf of an unlicensed moneylender, committing or attempting to commit any acts of harassment may face a fine between $5,000 and $50,000, a jail term of up to five years, and three to six strokes of the cane.

Members of the public are advised to stay away from loansharks and not to work with or assist the loansharks in any way.

The public can call the police at ‘999’ or the X-Ah Long hotline at 1800-924-5664 if they suspect or know of anyone who could be involved in illegal loansharking activities.

The police said they will take tough enforcement actions against those who are found to be involved in the loansharking activities, adding: "Regardless of the level of involvement, the perpetrator will face the full brunt of the law."