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The Police have arrested eight men and three women, aged between 18 and 77, for their suspected involvement in assisting in the business of an unlicensed moneylending syndicate. Of these, six men will be charged in court on 13 August 2026. 

On 12 August 2026, more than 100 officers from the Criminal Investigation Department, Police Intelligence Department and Special Operations Command conducted an island-wide enforcement operation involving simultaneous raids at multiple locations. The operation targeted persons believed to be involved in an unlicensed moneylending syndicate, as well as errant mobile phone retailers suspected of fraudulently registering postpaid SIM cards that were subsequently used by the syndicate for unlicensed moneylending activities. 

Preliminary investigations revealed that the 11 persons had assisted the syndicate in various capacities. These included sending bulk SMS advertisements offering “fast cash” and “easy loans” using Singapore-registered mobile lines, topping up these mobile numbers to facilitate the messaging activities, acting as runners, and providing their bank accounts to facilitate unlicensed moneylending transactions. 

The syndicate is believed to be responsible for at least 25,500 ScamShield reports and at least 1,509 police reports, of which 883 were UML-related. During the operation, more than $410,000 in cash, two laptops, 22 mobile phones, 14 SIM cards and 24 bank cards were seized as case exhibits. In addition, 29 bank accounts linked to the syndicate, with a combined balance of more than $106,000, were frozen, while cryptocurrencies valued at more than USD25,000 were also seized.

Six men, aged between 26 and 29, will be charged in court with an offence under Section 19 of the Moneylenders Act 2008. One of them was also found in possession of more than 300 vaporisers and related components. Most of the items seized are suspected to be vaporiser pods that contain etomidate. He is assisting the Health Sciences Authority (HSA) with investigations under the Tobacco and Vaporisers Control Act 1993, and the vaporisers have been sent for testing. 

Investigations into the other five persons suspected of assisting the syndicate are ongoing. 

Following the raids, another five men, aged between 20 and 52, were identified by the Police and are assisting with investigations into their suspected roles in the fraudulent registration of SIM cards, which were subsequently used by the syndicate to send bulk SMS advertisements promoting loan services.  

Under the Moneylenders Act 2008, first-time offenders found guilty of carrying on or assisting in the business of unlicensed moneylending shall be punished with an 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. 

The offence of facilitating the fraudulent registration of a SIM card which facilitates criminal activity, under Section 39G of the Miscellaneous Offences (Public Order and Nuisance) Act 1906, carries a fine not exceeding $10,000, an imprisonment term of up to three years, or both. If convicted, the individual shall also be liable to caning of not more than 12 strokes.

Vaporisers are illegal in Singapore. It is an offence to import, distribute, sell, offer for sale or possess for sale vaporisers and their components, tobacco products or imitation tobacco products containing Specified Psychoactive Substances including etomidate, in Singapore. Importers face three to 20 years’ imprisonment and five to 15 strokes of the cane. Suppliers face two to 10 years’ imprisonment and two to five strokes of the cane.  

Senior Assistant Commissioner of Police Julius Lim, Director of the Criminal Investigation Department, said: “Unlicensed moneylending syndicates depend on a network of persons to support their operations – from runners and bank account holders to those who enable criminal syndicates to exploit local SIM cards for illicit activities. The Police will continue to take firm enforcement actions against those involved in unlicensed moneylending activities, regardless of their roles. Those who support these syndicates should expect to be dealt with firmly under the law.” 

Members of the public can call the Police hotline at 1800-225-0000, 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.

Photographs of the enforcement operation