Loansharking Activities

Posted by admin
on June 3, 2016

In an island wide operation that took place between Monday and Wednesday (May 30 to June 1), one hundred and four suspects believed to be involved in illegal loan sharking activities have been arrested, according to news press reports released by the police today (June 2). The suspects, aged between 18 to 72, were apprehended by the Criminal Investigation Department (CID) and six police divisions in a simultaneous joint raid across various locations in Singapore.

Investigations against all suspects are currently ongoing. It is noted during preliminary investigations that four suspects are believed to be runners assisting in performing ATM transfers or procuring ATM cards for the usage of the loan sharks syndicates. Additionally, three suspects are believed to be harassers whose jobs included paint splashing and graffiti on walls. It has also been reported that one suspect is believed to be involved in providing false contact information during the illegal moneylending from loan sharks. Lastly, the remaining suspects who were arrested are believed to have facilitated in illegal moneylending activities by opening bank accounts and providing the loan sharks with their ATM cards and PIN numbers.

The authorities take a serious view of this matter and have committed to take measures against those involved, regardless of their roles, in these activities. Those found guilty of assisting in unlicensed and illegal moneylending business will be dealt with by the law. Members of the public can call the police at 999 or the X-Ah Long hotline at 1800-924-5664 if they know or suspect anyone involved in unlicensed moneylending. Remember, it is not worth it to get yourself involved in loan sharking activities, whatever your role is with the syndicates. If you are in a dire financial state and have no one to turn to, help is always available. You may wish to contact us and we can refer you to the necessary outlets available.

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