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The Police are investigating 77 persons, aged between 19 and 80, for their involvement in unlicensed moneylending activities, following an enforcement operation conducted islandwide between 21 and 25 September 2026.

During the five-day operation, officers from the Criminal Investigation Department and the seven Police Land Divisions conducted raids islandwide. Preliminary investigations revealed that seven persons had harassed debtors at their residences, and 38 persons were runners who had assisted in unlicensed moneylending activities by carrying out Automated Teller Machine (ATM) transfers. Another 32 persons 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 77 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 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 Police will continue to take tough enforcement actions against those involved in assisting unlicensed moneylending syndicates. This includes acting against individuals who relinquish their bank accounts 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 their residences, and locking 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.

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.