SINGAPORE - Police have arrested 112 suspects, 81 men and 31
women, in an islandwide anti-loansharking operation that took place from Aug 17
to 20. According to the police, they are aged between 19 and 69.
During the four-day operation, officers from the Criminal
Investigation Department (CID) and six police divisions conducted simultaneous
raids at multiple locations in Singapore.
Preliminary investigations revealed that nine suspects are
believed to be runners who had assisted the loansharks by carrying out
automated teller machine (ATM) transfers or procuring ATM cards for the
syndicates' usage.
Another three suspects are believed to be harassers who
carried out acts of loanshark-harassment by splashing paint and scrawling loanshark-related
graffiti on walls.
The police also said that the remaining 100 suspects are
believed to have opened bank accounts and given away their ATM cards and
personal identification numbers (PINs) to loansharks to facilitate their unlicensed
moneylending businesses. Investigations against the suspects are ongoing.
First-time offenders found guilty of assisting in unlicensed
moneylending may be fined between $30,000 and $300,000 and face a jail term of
up to four years. They also face up to six strokes of the cane.
First-time offenders found guilty of acting on behalf of an
unlicensed moneylender, committing or attempting to commit any acts of
harassment may be jailed up to five years or face a fine between $5,000 and
$50,000. They may also face three to six strokes of the cane.
Members of the public are advised by the police to stay away
from loansharks and not to work with or assist the loansharks. The public can
call the police at 999 or hotline at 1800-924-5664 if they
suspect or know of anyone who could be involved in illegal loansharking
activities.
Source: AsiaOne
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