141 suspects arrested for loan shark activities in three-day raid

SINGAPORE - More than 140 suspects were arrested for their alleged involvement in loan shark activities in a police blitz from Monday (Nov 11) to Wednesday (Nov 13).

The police arrested 103 men and 38 women, aged between 17 and 69, during the three-day operation.

The islandwide operation was conducted by officers from the Criminal Investigation Department and seven Police Land Divisions across multiple locations.

Preliminary investigations revealed that 26 suspects were runners who carried out ATM transfers on behalf of the loan sharks.

About 11 of the suspects are believed to have carried out acts of loan shark harassment by splashing paint and scrawling graffiti on walls.

One of the suspects is believed to have provided false contact information to obtain loans.

The remaining 103 suspects are believed to have opened bank accounts and given away their ATM cards and personal information to loan sharks to facilitate their unlicensed moneylending businesses, the police said.

Those who are convicted of carrying on or assisting in a business of unlicensed moneylending can be fined between $30,000 and $300,000, jailed up to four years and receive up to six strokes of the cane.

Those convicted of acting on behalf of an unlicensed moneylender in committing or attempting to commit any acts of harassment can be fined between $5,000 and $50,000, jailed up to five years, and received between three and six strokes of the cane.

The police advised members of the public not to reply or respond to loan advertisements sent via text messages or online platforms as these are likely to be from loan sharks.

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