Police have arrested 31 persons, including 5 females, aged between 17 to 59 years old in round-the-clock anti-loansharking operations. The persons arrested are suspected to be members of loansharking syndicates, playing a range of roles from financier (‘Towkays’), to loansharks (‘Ah Longs’), to runners, harassers and bank account holders. This is the highest number of persons arrested for loansharking activities in a continuous period since 2005.

Through extensive intelligence gathering and probes, police were able to identify the syndicate members, who were suspected to be running several different “stalls” island-wide.

Yesterday morning, officers from the Criminal Investigation Department and Police Intelligence Department commenced round the clock operations to round up the members, which ended early this morning. Raids were conducted at various locations including the Punggol, Hougang, Eunos, Changi, Bedok North, Redhill, Serangoon, Sengkang, Woodlands, Bukit Batok, Rivervale, Buangkok, Bedok Reservoir, Commonwealth Drive and Tampines areas.

Collectively, the syndicates are believed to have given out loans to about 600 debtors. Among the items seized included cash of more than $66,000, computer, laptops, handphones, storage devices, ATM cards, suspected debtor records, pre-paid top up cards and other documents.

Director of Criminal Investigation Department, Senior Assistant Commissioner Ng Boon Gay praised the officers and said, “Police’s strategy is to take out loansharking syndicates, which are the root cause of harassment. This is organised crime at all levels, regardless of the person’s role ; from the lowly runner to the Towkay. Every single member of the syndicates, regardless of level, will be taken to task, and dealt with severely.”

Persons found guilty of operating or assisting in the operating of an illegal money-lending business may be fined not less than $20,000 and up to $200,000 or imprisoned for up to two years or both. Under the amendments to the Moneylenders Act 2008, persons found guilty of such offences may be fined not less than $30,000 and up to $300,000 with mandatory imprisonment of up to 4 years and mandatory caning of up to 6 strokes.

Persons found guilty of committing loanshark harassment may be fined not less than $4,000 and up to $40,000 or imprisoned for up to three years or both. In addition, persons who cause damage to property or harm to persons while committing these acts of harassment are liable for caning. Under the amendments to the Moneylenders Act 2008, persons found guilty of such offences may be fined not less than $5,000 and up to $50,000 with mandatory imprisonment of up to 5 years. Under the amended provisions, persons who cause damage to property or harm to persons while committing these acts of harassment are also liable for mandatory minimum caning.