Police arrested 30 men and 6 women aged between 14 and 63 years old on 6 April 2010 in a concerted operation by officers from the Ang Mo Kio Police Division and the Specialised Crime Investigation Branch of CID against loansharking activities.

During the 14-hour islandwide crackdown, simultaneous raids were carried out at Boon Lay, Jurong East, Woodlands, Yishun, Ang Mo Kio, Geylang Bahru, Bedok, Tampines and Changi. Preliminary investigation revealed that the 36 suspects had facilitated the business of unlicensed moneylending by opening bank accounts and giving away their Automated Teller Machine (ATM) cards with Personal Identification Number (PIN) to the loansharks for their unlicensed moneylending activities. Investigations are 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 shall be presumed, until the contrary is proved, to have assisted in the carrying on of an unlicensed moneylendig business.

First time offenders found guilty of assisting in the carrying on of the business of unlicensed moneylending, may be fined not less than $30,000/- and not more than $300,000/- and be imprisoned for a term not exceeding 4 years. They 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 and Assistant Director of the Specialised Crime Division (SCD), Criminal Investigation Department, Superintendent Goh Lam Kiong commended the officers on their successful operation and continued efforts against the loansharking scourge.