Police arrested 25 men and 10 women aged between 18 and 62 years old for suspected involvement in loansharking activities during a 17-hour islandwide operation against unlicensed moneylenders.

On 28 July 2010 between 8.00 am and 10.00 pm , officers from Ang Mo Kio Police Division conducted simultaneous raids at Clementi, Bukit Batok, Ang Mo Kio, Serangoon, Hougang and Sengkang resulting in the arrests. During the operation, ATM cards, bank account application forms, bank transaction slips and flyers advertising 'fast cash' were also seized as case exhibits. Preliminary investigations revealed that 31 of the suspects had opened bank accounts and given 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. The other 4 who were arrested are believed to comprise of three bank account recruiters and one runner. Preliminary investigation revealed that the three account recruiters had assisted the loanshark syndicates to source for potential bank account holders while the runner was believed to have scrawled loanshark-related graffiti in the Hougang Estate. Out of the 35 arrested, at least 21 are also believed to be debtors or guarantors.

A total of 6 suspects will be charged in Court on 30 July 2010 for offences under the amended Moneylenders Act 2008.

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 tenacity and efforts which resulted in the arrest of the 35 suspects. He said, "The Police takes serious view of individuals who allow their bank accounts to be used by the loansharks or assist in the business of the loansharks in any way. We will continue to clamp down on unlicensed moneylending activities and will not hesitate to take action against those involved."