15 suspects arrested for alleged involvement in loansharking activities

Fifteen suspects, comprising 10 men and five women, have been arrested for their suspected involvement in loansharking activities.

In a news release on Thursday (May 19), police said that according to preliminary investigations, the suspects are believed to have opened bank accounts and given away their Automated Teller Machine (ATM) cards and Personal Identification Numbers (PINs) to loanshark syndicates to facilitate their unlicensed moneylending businesses.

The suspects – aged between 17 and 55 – were rounded up in a two-day operation involving raids in Woodlands, Choa Chu Kang, Jurong West, Bedok and Sengkang.

Police investigations are ongoing. If found guilty of assisting in the business of unlicensed moneylending, first-time offenders could face a jail term of up to four years and a fine of at least S$30,000. Offenders are also liable to be punished with caning of not more than six strokes.