Police arrested five men and one woman, aged between 26 to 34 years old, for suspected involvement in a loansharking syndicate in an operation which commenced yesterday night and ended early this morning. The syndicate is believed to be responsible for more than 180 loanshark-related harassment cases islandwide.

Officers from the Criminal Investigation Department and Police Intelligence Department raided various locations including Jurong, Woodlands Drive 52 and the Balestier area to round up the suspects. In the course of the operation, items including cash of about $19,000, mobile phones, Automated Teller Machine (ATM) cards, laptops and suspected debtor records were seized for further investigations.

Preliminary investigations indicate that the suspects had assisted the syndicate to collect repayments through electronic fund transfers and committed harassment in connection with debtor loans. The 5 male suspects will be charged in Court on 1 July 2009 for offences under the Moneylenders' Act 2008. The remaining female suspect has been released on bail pending further investigations.

Assistant Director of the Specialised Crime Division (SCD), Criminal Investigation Department, SUPT Goh Lam Kiong commended the officers involved in the operation and said, “Police will continue with our enforcement efforts against these loansharking syndicates. Police urge the public to keep a look out for suspicious characters in the neighbourhood, and to alert the police immediately should they detect anything amiss."

First-time offenders found guilty of operating or assisting loansharks in their business may be fined not less than $20,000 and up to $200,000 or jailed up to 2 years, or both. Repeat offenders face a fine of up to $200,000 and mandatory imprisonment for up to 5 years if convicted. First-time offenders found guilty of loanshark harassment may be fined not less than $4,000 and up to $40,000 or jailed up to 3 years, or both. In addition, persons who have damaged property or caused harm to persons while committing loanshark harassment are liable for caning.