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Tuesday, February 18th, 2020

Six Arrested For Involvement In Loansharking Activities

by March 13, 2019 Fun

The Police have arrested four men and two women, aged between 29 and 69, for their involvement in loansharking activities.

In an operation conducted on 12 March 2019, officers from the Criminal Investigation Department conducted simultaneous raids at multiple locations islandwide, resulting in the arrests. During the operation, items including cash amounting to about $24,700, mobile phones, Automated Teller Machine (ATM) cards, Internet banking dongles, bank transaction receipts and a stack of loan advertisement name cards were seized. Preliminary investigations suggested that the suspects are members of a loansharking syndicate.

A 33-year-old man will be charged in court on 14 March 2019 for offences under the Moneylenders Act (Revised Edition 2010). Investigations against the remaining five suspects are ongoing.

The Police will continue to take tough enforcement actions against those involved in the loansharking business, regardless of their roles, and they will face the full brunt of the law.

Loansharks are increasingly sending unsolicited loan advertisements via text messages or online platforms. Members of the public are reminded not to reply or respond to such advertisements, and report the number as spam. The public can call the Police at ‘999’ or the X-Ah Long hotline at 1800-924-5664, if they suspect or know of anyone who could be involved in illegal loansharking activities. All information provided will be kept strictly confidential.

Source: Singapore Police Force