SINGAPORE - The police arrested a total of 64 people on February 22 in two separate island-wide operations against loansharking activities.
A total of 50 men and 14 women, aged between 18 and 81, were arrested during raids at various locations for their suspected involvement in loansharking activities.
Preliminary investigations revealed that these suspects had opened bank accounts and given away their Automated Teller Machine (ATM) cards with Personal Identification Numbers (PINs) to loansharking syndicates to facilitate their unlicensed moneylending businesses.
Investigations against the suspects are ongoing.
First-time offenders found guilty of assisting in the carrying on of the business of an unlicensed moneylender may be fined between $30,000 and $300,000, jailed up to four years and caned up to six strokes.
First-time offenders found guilty of acting on behalf of an unlicensed moneylender, committing or attempting to commit any acts of harassment may be jailed for up to five years, fined between $5,000 and $50,000, and caned up to six strokes.