Police arrested 11 men and 5 women aged between 21 and 58 years old , for suspected involvement in loansharking activities in a 10-hour islandwide operation against unlicensed moneylenders which ended yesterday.

During the operations, officers from the Criminal Investigation Department mounted simultaneous raids at various areas in Jurong West, Yishun, Ang Mo Kio, Bedok Reservoir Road , Aljunied Crescent , French Road and Telok Blangah Crescent , resulting in the arrest of the 16 persons.

Preliminary investigations revealed that 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. All the bank accounts believed to be used in the illicit unlicensed moneylending business have since been frozen.

Investigations against the arrested persons are still in progress.

Assistant Director, Specialised Crime Division of the Criminal Investigation Department, Superintendent Goh Lam Kiong commended his officers for their efforts in the operation. He added “These bank account holders are actually helping the syndicate to evade police detection. Such irresponsible acts allow loansharking syndicates to flourish, resulting in harassment to innocent victims. Police will not hesitate to take such offenders to task.”

Under the Moneylenders Act, 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 of not more than 6 strokes.