Police arrested 11 men and 5 women, aged between 22 to 67 years old, in an islandwide anti-loansharking operation on 10 March 2010 .

The 16 suspects were arrested during the 13-hour operation on 10 March 2010, which saw officers from Ang Mo Kio Police Division conducting simultaneous raids at various locations in Clementi West, Woodlands, Orchard Road, Raffles Place, Geylang Bahru, Ang Mo Kio, Hougang, Buangkok Crescent, Tampines and New Upper Changi Road housing estates. Preliminary investigation revealed that the 16 suspects had opened bank accounts and given their ATM (Automated Teller Machine) cards and PIN (Personal Identification Number) numbers to loanshark syndicates to faciliate loansharking activities. All the bank accounts have since been frozen. Investigations against the 16 suspects are in progress.

Under the Amended Moneylenders Act 2008, where 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 is presumed until the contrary is proven, to have assisted in the carrying on of the business of an unlicensed moneylender. First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender, may be fined not less than $30,000/- and not more than $300,000/- and be imprisoned for a term not exceeding 4 years. First time offenders shall also be liable to be punished with caning with not more than 6 strokes.

Commander of Ang Mo Kio Police Division HQ, Deputy Assistant Commissioner of Police Hsu Sin Yun, commended his officers for their efforts in the successful operation. He warned that those who facilitated loanshaking activities by using their bank accounts or ATM cards were no less culpable and reiterated that the Police will continue to clamp down on unlicensed moneylending activities.