In an islandwide operation conducted from 19 to 20 November 09, Police arrested 9 men and 1 woman, aged between 18 to 58 years old, for their suspected involvement in loansharking activities.

During the seven hour operation, raids were conducted simultaneously at various housing estates in locations such as Elias Road, Whampoa, Ghim Moh Road, Teck Whye Lane, Clementi, Jurong and Boon Lay. Loanshark paraphernalia such as ATM cards, bank statements and bank slips were seized for the purpose of investigation. Preliminary investigations indicated that the suspects are believed to have handed over their bank accounts and ATM cards to unlicensed moneylending syndicates in return for monetary gains. Four of the suspects are also believed to be debtors-turned-runners. Investigations are still ongoing.

Under the Moneylenders Act 2008, when a bank account or automated teller machine (ATM) card of any person, is proved to the satisfaction of the court, to have been used to facilitate the carrying on of the business of moneylending by an unlicensed moneylender, that person shall be presumed, until the contrary is proved, to have assisted in the carrying on of the business of an unlicensed moneylender. First-time offenders found guilty of operating as loansharks or assisting loansharks in their business may be fined up to $200,000 or imprisoned up to 2 years or to both. Repeat offenders may face a fine of up to $200,000 and mandatory imprisonment for up to 5 years.

Commander of Ang Mo Kio Police Division HQ, Deputy Assistant Commissioner of Police Hsu Sin Yun, commended his officers for their successful operation against the loansharks. He said, "By surrendering their bank accounts to the unlicensed moneylenders, these bank account holders are actually helping the syndicate to evade police detection. Police will not hesitate to take action against such perpetrators."