Landing page banner

The Police are investigating 98 persons, aged between 17 and 78, for their suspected involvement in unlicensed moneylending activities, following an enforcement operation conducted islandwide between 25 and 31 August 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 one person had operated as an unlicensed moneylender, seven persons had harassed debtors at their residences, and 46 persons were runners who had assisted in unlicensed moneylending activities by carrying out Automated Teller Machine (ATM) transfers. Additionally, 41 persons were believed 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.

The remaining three persons, comprising a woman and two men, aged between 26 and 48, are under investigation for their suspected involvement in cross-border unlicensed moneylending activities, after the Police acted on information received from the Royal Malaysia Police (RMP). They are believed to have provided their bank accounts and mobile numbers to unlicensed moneylenders and are linked to unlicensed moneylending reports in both Malaysia and Singapore.

Investigations against all 98 persons are ongoing.

Under the Moneylenders Act 2008, when a phone line, 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 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. 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 an 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 Singapore Police Force (SPF) and the RMP are committed to combating cross-border unlicensed moneylending activities through close cooperation and the timely exchange of information. Tough enforcement actions will be taken against those involved in assisting unlicensed moneylending syndicates. This includes acting against individuals who relinquished their bank accounts or mobile numbers to aid unlicensed moneylenders.

Unlicensed moneylenders will not hesitate to carry out persistent and dangerous harassment acts on the 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 with or assisting them in any way. 

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. Foreigners found to have borrowed from, or convicted of 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.

Senior Assistant Commissioner of Police Julius Lim, Director of the Criminal Investigation Department, said: “Unlicensed moneylending syndicates depend on networks of runners, bank account holders and others who facilitate the misuse of local SIM cards. We will continue to take decisive action against these syndicates and those who enable them, including by working closely with the Royal Malaysia Police. Anyone involved in unlicensed moneylending activities, in whatever capacity, will face the full consequences of the law.”

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.