Following an operation on 10 March 2010, Police have arrested 24 persons, comprising 21 men and 3 women, aged between 17 and 58 years old, for suspected involvement in loansharking activities.

On 10 March 2010, officers from Bedok Police Division and Criminal Investigation Department (CID) raided various locations, including Pandan Loop, Pasir Ris, Chai Chee, Bedok, Ubi Ave, Marine Parade, Tampines, Simei and arrested the 24 suspects. Preliminary investigations revealed that the suspects were believed to have allowed the loansharks to use their bank accounts for loansharking activities. Investigations are still on-going.

Under the 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. Prior to 11 February 2010, first-time offenders found guilty of assisting an unlicensed moneylender to carry out his business may be fined not less than $20,000 and up to $200,000 or imprisoned for up to 2 years, or both. On 11 February 2010, following amendments made to the said act, 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 Bedok Police Division, Deputy Assistant Commissioner Teo Chun Ching commended all officers involved for their dedication and good work in cracking down on loansharking activities.