The Police have arrested 99 suspects, aged between 15 and 68, for their suspected involvement in loansharking activities in three separate cases.
In the first case, during an anti-loansharking operation which took place between 25 and 27 April 2016, officers from the Criminal Investigation Department (CID) and the six Police land divisions conducted simultaneous raids at multiple locations in Singapore and arrested 66 men and 31 women aged between 15 and 68. Preliminary investigations revealed that seven suspects are believed to be runners who had assisted the loansharks in their businesses by carrying out Automated Teller Machine (ATM) transfers. Five of the suspects are believed to be harassers who had carried out acts of loanshark-harassment by splashing paint and scrawling loanshark-related graffiti on walls.
During the operation, the Police also arrested one suspect who is believed to have provided false contact information when obtaining loans from loansharks. Investigations under the National Registration Act will be carried out against the said suspect for failing to report the change of address. The remaining 84 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.
In the second case, on 26 April 2016, the Police received a report on loanshark harassment where the main door of a residential unit at Tampines Street 21 was burnt and loanshark related graffiti was found written on the wall outside the unit. Through extensive ground enquiries and with the aid of Police Cameras (POLCAMs), officers from Bedok Division arrested a 41-year-old man at the vicinity of Lorong 12 Geylang on 27 April 2016 for his suspected involvement in the case. Bicycle locks, tins of paints, black markers, kerosene, gloves and a handphone containing debtor’s records, harassment videos and pictures were also seized from the man as case exhibits. The man will be charged in Court on 29 April 2016 with an offence of Harassment on behalf of an Unlicensed Moneylender.
In the third case, on 27 April 2016, officers from Central Division who were on patrol conducted a check on a 38-year-old man who was observed to be behaving suspiciously at City Hall MRT station and found him in possession of an Automated Teller Machine (ATM) card which is believed to have been used for loansharking activities. He was subsequently placed under arrest for suspected involvement in loansharking activities. Preliminary investigations revealed that the man is believed to have performed fund transfers and also gave away his ATM card and Personal Identification Numbers (PIN) to loanshark syndicates to facilitate their unlicensed moneylending businesses. Investigations are currently on-going.
Under the Moneylenders’ Act (Revised Edition 2010), when a bank account or ATM card of any person is used to facilitate moneylending by an unlicensed moneylender, that person is presumed to have assisted in carrying on the business of unlicensed moneylending.
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First-time offenders found guilty of assisting in the business of unlicensed moneylending may be fined between $30,000 and $300,000, be imprisoned for a term of up to four years and shall also be liable to be punished with caning of up to six strokes.
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First-time offenders found guilty of acting on behalf of an unlicensed moneylender, committing or attempting to commit any acts of harassment shall be punished with imprisonment for a term of up to five years, a fine of between $5,000 and $50,000, and shall also be liable to caning of between three and six strokes.
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Any person who is guilty of providing false contact information to obtain loans from loansharks shall be liable upon conviction to imprisonment for a term of up to 12 months. Under the National Registration Act, any person who is guilty of an offence of failing to report a change of address shall be liable on conviction to a fine of up to $5,000, or to imprisonment for a term of up to five years, or to both.
The Police will continue to take tough enforcement action against those involved in the loansharking business, regardless of their roles, and they will face the full brunt of the law. This would include taking action against those who open or give away their bank account(s) to aid unlicensed moneylenders.
Members of public are advised to stay away from loansharks and not to work with or assist the loansharks in any way. The public can call the Police at ‘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.
Items seized from the second case
SINGAPORE POLICE FORCE
28 April 2016 @ 7:00 PM