Landing page banner

The Police are investigating 82 persons, aged between 16 and 78, for their suspected involvement in unlicensed moneylending activities, following an enforcement operation against unlicensed moneylending activities conducted from 25 to 31 March 2026.

During the seven-day operation, officers from the Criminal Investigation Department and the seven Police land divisions conducted raids islandwide. Preliminary investigations revealed that eight persons had allegedly harassed debtors at their residences and 14 persons were believed to be runners who had allegedly assisted in unlicensed moneylending activities by carrying out Automated Teller Machine (ATM) transfers.

The remaining 60 persons are alleged to have opened bank accounts and provided their ATM cards, Personal Identification Numbers (PINs) and/or Internet Banking tokens to unlicensed moneylenders to facilitate their unlicensed moneylending activities. 

Investigations against all the persons are ongoing.

Under the Moneylenders Act 2008, when a bank account, ATM card or Internet Banking token 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. First-time offenders found guilty of the offence of carrying on or assisting in a business of unlicensed moneylending shall be punished with imprisonment term of up to four years, a fine of not less than $30,000 and not more than $300,000, and caning of not more than six strokes. First-time offenders found guilty of the offence of acting on behalf of an unlicensed moneylender to commit or attempt to commit any acts of harassment shall be punished with imprisonment term of up to five years, a fine of not less than $5,000 and not more than $50,000, and caning of not less than three and not more than six strokes. 

The Police will continue to take tough enforcement actions against those involved in helping unlicensed moneylending syndicates. This includes firm action against anyone, including youths, who deliberately vandalise property, cause annoyance or disrupt public safety, peace and security. Anyone who allows their bank accounts to be used by unlicensed moneylending syndicates for illicit transactions may be prosecuted and barred from using ATM and internet banking facilities for a year. The Police strongly urge youths to steer clear of such activities and not assume that their age will afford them any leniency.

Unlicensed moneylenders will not hesitate to carry out persistent and dangerous harassment acts on borrowers and their families, such as setting fires,  splashing paint at residences, and locking the gates using chains or bicycle locks to confine the occupants. Members of the public are advised to stay away from unlicensed moneylenders and avoid working or assisting them in any way. Foreigners found to have borrowed from or convicted for aiding the activities of unlicensed moneylenders will also have their student or work passes cancelled and subsequently deported from Singapore upon completion of their sentence. 

Members of the public can call the Police Hotline at 1800-255-0000, or submit information online at www.police.gov.sg/i-witness if they suspect or know of anyone who could be involved in unlicensed moneylending activities. All information provided will be kept confidential.