Police have arrested 11 men and one woman, aged between 18 and 56 years old, for suspected involvement in unlicensed moneylending activities.

On 23 Sep 2010 , Police officers from Jurong Police Division mounted another wave of anti-loansharking operation at various locations including Bukit Panjang, Choa Chu Kang and Jurong West housing estates. During the 24-hour operation, officers arrested 6 persons who were suspected to have opened bank accounts and allowed them to be used in unlicensed moneylending activities and another 6 persons for acting as runners for unlicensed moneylenders. Several ATM cards, bank transaction slips, handphones, cans of black paint and marker pens were also seized in the course of the operation.

Five of the suspects will be charged in Court on 24 Sep 2010 under the Moneylenders Act. Investigations against the other seven suspects are on-going.

Under the Moneylenders Act (Revised Edition 2010), first time offenders found guilty of allowing their bank accounts or ATM cards to be used in unlicensed moneylending activities shall be fined not less than $30,000 and not more than $300,000 and be imprisoned for a term not exceeding 4 years. First time offenders found guilty of loanshark harassment shall be fined not less than $5,000 and not more than $50,000 with mandatory imprisonment of up to 5 years and mandatory caning of up to 6 strokes.

Commander of Jurong Police Division, Deputy Assistant Commissioner of Police, Florence Chua commended her officers for their efforts in rounding up the suspects. She said, “The Police will not hesitate to take stern action against people who facilitate the business of unlicensed moneylenders, especially those who cause distress to the public with acts of harassment. We will continue with our efforts to clamp down on unlicensed moneylending activities in Singapore .”