Police have arrested nine men and one woman, aged between 26 to 45 years old, for suspected involvement in a loansharking syndicate. The 10 were arrested in an island-wide operation conducted early this morning, making this the second loansharking syndicate to be eradicated within a week. Last week on 1 July 09, Police had similarly arrested seven persons for their suspected involvement in a loansharking syndicate as part of a series of enforcement actions against loansharks.

Following extensive intelligence probes and investigation, officers from the Criminal Investigation Department and Police Intelligence Department arrested the suspects during raids conducted at several locations including Bedok, Bukit Batok, Ang Mo Kio, Geylang, Bukit Batok, Yishun and Haig Road. Items seized for further investigations included approximately $9,000 in cash, laptops, mobile phones, computer storage devices, ATM cards and bank transaction slips.

Preliminary investigations indicated that the syndicate is believed to have about 500 debtors linked to it and is believed to be responsible for more than 900 cases of harassment. Investigations are still on-going.

Assistant Director of the Specialised Crime Division, Criminal Investigation Department, Superintendent of Police Goh Lam Kiong, praised the officers for smashing the syndicate and said, "This is the second loansharking syndicate busted in a week. Police will not let up on our efforts in coming down hard on the loansharking syndicates. Persons who cause damage to property or hurt others while committing harassment are also liable for caning - and this includes loansharks and those directing such harassment."

First-time offenders found guilty of operating or assisting a business as an unlicensed moneylender 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 of up to 5 years.

First-time offenders found guilty of loanshark harassment - including loansharks who direct such harassment - may be fined not less than $4,000 and up to $40,000, or jailed up to 3 years or both. They are also liable for caning if any damage to property or hurt to persons was caused while committing the harassment.