Ten Arrested for Loansharking Activities

The Police arrested eight men and two women, aged between 24 and 58, for their suspected involvement in loansharking activities in a 12-hour operation conducted on 25 March 2017.

Following extensive ground enquiries conducted, officers from the Criminal Investigation Department (CID) and the Police Intelligence Department (PID) conducted simultaneous raids at various locations island-wide, resulting in the arrests. During the operation, items such as cash amounting to about $18,670/-, mobile phones, a desktop computer, thumb drives, Automated Teller Machine (ATM) cards, Internet banking dongles and bank transaction slips were seized as case exhibits. Preliminary investigations revealed that the suspects are believed to be members with various roles in the loansharking syndicate.

Four suspects will be charged in Court on 27 March 2017 for offences under the Moneylenders Act (Revised Edition 2010). Investigations against the remaining suspects are still ongoing.

Members of the public are advised to stay away from loansharks and not to work with or assist the loansharks in any way. The public can call the Police at ‘999’ or the X-Ah Long hotline at 1800-924-5664 if they suspect or know of anyone who could be involved in illegal loansharking activities.

Source: Singapore Police Force

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