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92 nabbed in three-day anti-loansharking blitz

SINGAPORE – A total of 66 men and 26 women, aged between 17 and 77, were arrested for their suspected involvement in loansharking activities after a three-day island-wide operation.

Stock photo from istock

Stock photo from istock

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SINGAPORE – A total of 66 men and 26 women, aged between 17 and 77, were arrested for their suspected involvement in loansharking activities after a three-day island-wide operation.

In a statement on Thursday (July 27), the Police said officers from the Criminal Investigation Department (CID) and six Police land divisions had conducted simultaneous raids at multiple locations in Singapore.

According to the police, 13 suspects are believed to be runners who carried out Automated Teller Machine (ATM) transactions on behalf of the loansharks; while three others provided false contact information for the purpose of obtaining loans.

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

The remaining 73 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.

Investigations against all the suspects are ongoing.

The Police reiterated that they would continue to take tough enforcement action against those involved in loansharking activities, regardless of their roles, including those who open or give away their bank accounts to aid unlicensed moneylenders.

The police also reminded the public to stay away from loansharks and not to work with or assist loansharks in any way, and call “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.

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