In the wake of the amended Moneylenders’ Act which came into effect on 11 February 2010, Police continue to step up the pressure and arrested 15 men and five women, aged between 19 and 73 years old, for their suspected involvement in loansharking activities.

In a 15-hour island-wide operation conducted on 1 April 2010 , officers from Ang Mo Kio Police Division raided various premises in Ho Ching Road , Bangkit Road , Bedok Reservoir, Jurong West, Ang Mo Kio, Yishun and Sengkang. Loansharking-related paraphernalia such as Automated Teller Machine (ATM) cards, bank statements and bank slips were also seized. Preliminary investigations revealed that the suspects are believed to have handed over their bank accounts, ATM cards and PIN (Personal Identification Number) to unlicensed moneylending syndicates in return for monetary gains. Ten of the suspects are believed to be debtors-turned-runners, and at least 14 of them had opened more than one bank account for these syndicates. All the bank accounts have since been frozen. Police 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. Under the amended Moneylenders’ Act 2008 which came into effect on 11 February 2010, first-time offenders found guilty of assisting an unlicensed moneylender to carry out his business face heavier penalties and could be fined not less than $30,000 and not more than $300,000, with a mandatory imprisonment term of up to four years and mandatory caning of up to six strokes .

Commander of Ang Mo Kio Police Division, Deputy Assistant Commissioner of Police Hsu Sin Yun, commended his officers for their continued efforts against unlicensed moneylending activities. He said, "Police will continue to intensify enforcement actions against perpetrators who surrender their bank accounts to unlicensed moneylenders."