In one of the biggest crackdown this year, Police arrested 30 men and 9 women aged between 18 and 62 years old for suspected involvement in loansharking activities during a 19-hour islandwide operation against unlicensed moneylenders.

From 3 to 4 June 2010 , officers from Ang Mo Kio Police Division conducted simultane ous raids at Jalan Besar, Circuit Road , Tampines, Sengkang East Way , Hougang, Ang Mo Kio and Yishun resulting in the arrest of the 39 suspects . Preliminary investigations revealed that 37 of the suspects had facilitated in the business of the loansharking syndicates by opening bank accounts and giving away their Automated Teller Machine (ATM) cards and Personal Identification Number (PIN) to the loansharks. 2 of the suspects were arrested for carrying out acts of loanshark harassment in the form of splashing paint and scrawling loanshark-related graffiti in the Hougang estate. At least 29 of those arrested are also believed to be debtors or guarantors. During the operation, a can of paint, markers, copies of bank statements and ATM card were seized as case exhibits. All the bank accounts believed to be used in the illicit unlicensed moneylending business have since been frozen. Investigations are still in progress.

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. 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/-, be imprisoned for a term not exceeding 4 years and shall also be liable to be punished with caning with not more than 6 strokes. Those who are acting on behalf of an unlicensed moneylender, commit or attempt to commit any acts of harassment shall be punished with imprisonment for a term not exceeding 5 years, fine not less than $5,000/- and not more than $50,000/- and shall also be liable to be caned 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 perseverance and efforts in fighting the loansharking scourge. He said, "By giving up their bank accounts to the unlicensed moneylenders, these bank account holders are actually helping the syndicate to evade police detection. Police will not hesitate to take action against individuals who flout the law in such a manner."