Almost 100 Loan Sharks Caught in Singapore

SINGAPORE– An overall of 66 men and 26 females, aged in between 17 and 77, were detained for their believed 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 6 Police land divisions had performed synchronised raids at multiple areas in Singapore.

According to the authorities, 13 suspects are thought to be runners who performed Automated Teller Machine (ATM) transactions on behalf of the loansharks; while three others provided false contact details for the purpose of getting loans.

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

The remaining 73 suspects are believed to have opened savings account and given away their ATM cards and Personal Identification Numbers (PINs) to loansharks to facilitate their unlicensed moneylending businesses.

Examinations against all the suspects are ongoing.

The Police reiterated that they would continue to take hard enforcement action versus those associated with loansharking activities, no matter their functions, including those who provide or open away their savings account to assist unlicensed lenders.

The police likewise advised 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 know or suspect of anybody who could be involved in prohibited loansharking activities.


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