18 people arrested for suspected loansharking activities, more than $146,000 seized in raids

Seventeen men and one woman, aged between 34 and 61, were arrested for their suspected involvement in loansharking activities, said police.

In an island-wide operation conducted on April 26 and 27, officers from the Criminal Investigation Department, Police Intelligence Department and Special Operations Command mounted simultaneous raids at multiple locations, including Yishun, Jurong, Punggol, Sengkang, Ang Mo Kio, Tampines, Bukit Batok, Hougang, Joo Chiat, Choa Chu Kang, Pasir Ris, Macpherson and Raffles Place.

During the operation, cash amounting to more than $146,000, mobile phones, SIM cards, automated teller machine (ATM) cards and a personal computer were seized.

The police also froze 23 bank accounts believed to have been used by the syndicate members.

Preliminary investigations revealed that the 18 persons were allegedly involved in various roles within the loansharking syndicate, such as carrying out ATM transfers, collecting and handing over cash, couriering, and illegally remitting criminal proceeds overseas.

Investigations against all the persons are ongoing.

You are advised to stay away from unlicensed moneylenders and not to work with or assist them in any way.

You 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 unlicensed moneylending activities.