This article was last updated on April 16, 2022
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This week the Singapore police arrested 127 men for loansharking and related activities. The statement by the Police said: In an island-wide anti-loansharking operation which took place between 20 and 23 May 2014, Police arrested a total of 127 suspects aged between 18 and 74. The 89 men and 38 women were suspected to be involved in loansharking activities.
During the operation, officers from the Criminal Investigation Department (CID) and all six Police land divisions conducted simultaneous raids at multiple locations in Singapore, resulting in the arrests. Preliminary investigations indicate that 11 suspects were believed to be involved in loansharking activities as harassers, or as runners who facilitated the loansharks in their businesses by verifying debtors’ particulars, procuring Automated Teller Machine (ATM) cards and carrying out ATM transfers.
Police also arrested three suspects who were believed to have provided false contact information when obtaining loans from loansharks, resulting in the innocent house owners being harassed. Investigations under the National Registration Act will also be carried out against these suspects for failing to report their change of address. The remaining 113 suspects were 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. Investigations against all the suspects are ongoing.
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