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Police islandwide operation nets 127 suspects for loansharking activities

Published on May 24, 2014 2:42 PM

SINGAPORE - An islandwide dragnet between Tuesday and Friday saw police arrest 127 suspects for alleged involvement in loansharking activities.

The latest blitz was conducted by officers from the Criminal Investigation Department (CID) and all six police land divisions who launched simultaneous raids at multiple locations, netting 89 men and 38 women aged between 18 and 74. Police said 11 of the suspects were believed to have been harassers or runners who facilitated the loansharks' businesses by verifying debtors' particulars, procuring Automated Teller Machine (ATM) cards and carrying out ATM transfers.

Three other suspects were believed to have provided false contact information when obtaining loans from loansharks, which resulted in innocent home-owners being harassed. The trio are being investigated under the National Registration Act 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 assist their unlicensed moneylending operations. 

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