In an operation against an unlicensed moneylending syndicate on 19 April 2010 , Police arrested 3 men and 1 woman, aged between 26 to 31 years old, for suspected involvement in unlicensed moneylending activities.

In the course of the operation, officers from the Criminal Investigation Department and Police Intelligence Department raided various premises in Bukit Batok, Compassvale, Teck Whye, and Choa Chu Kang. In addition to the arrests, cash amounting to over $2,000, 12 mobile phones, 3 laptop computers, 16 ATM cards, 6 electronic data storage devices, business card-sized flyers advertising the syndicate’s illegal services, as well as an assortment of paraphernalia and documents such as bank transactions slips, passbooks and written records were also seized.

Preliminary investigations revealed that the 4 suspects made use of ATM cards and bank accounts to issue loans and collect repayments.

First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender, may be fined up to $300 000, and jailed a maximum of 4 years. Repeat offenders face a maximum fine of $300 000, and a maximum jail term of 7 years. Offenders may also be caned up to 6 strokes for first offenders, and up to 12 strokes for repeat offenders.

Assistant Director of the Specialised Crime Division of Criminal Investigation Department, Superintendent of Police, Goh Lam Kiong said “This operation is part of the on-going Police efforts to curb unlicensed moneylending activities in Singapore . Police will continue with our enforcement efforts against such illegal activities”