A major loanshark sydicate was smashed when police raided multiple locations in Singapore in the largest operation for the last three years.
A total of 21 men and 2 women, aged between 19 and 43 years, have been arrested for suspected involvement in loansharking activities in the operation that took place between Wednesday and Thursday.
Simultaneous raids were in Bukit Timah, Jurong West, Geylang Road, Henderson Road, Serangoon North Road, Woodlands, Ang Mo Kio, Punggol Place, Toa Payoh, Guillemard Road, Bukit Batok, Teck Whye Lane, as well as Johor Bahru, Malaysia resulting in the arrests.
One of the suspects, a 30-year-old Singaporean man was arrested in Johor Bahru with the assistance of the Royal Malaysia Police.
During the operation, cash amounting to about $86,000 and several mobile phones, ATM cards, laptops, mobile phone prepaid cards and records of loans were seized.
Eleven of the suspects, all men aged between 19 and 38 years, will be charged in court tomorrow while investigations against the remaining suspects are ongoing.
Director of the Criminal Investigation Department, SAC Hoong Wee Teck said that while some loansharks syndicates may have modified and shifted part of their operations overseas so as to evade detection, police will continue to seek them out.
He also noted the close collaboration between the Royal Malaysia Police (RMP) and the Singapore Police Force.
Persons found guilty of operating or assisting in the operating of a loansharking business may be fined between $30,000 and $300,000 with mandatory imprisonment of up to four years and shall be liable for caning of up to six strokes.
Persons found guilty of committing loanshark harassment shall be punished with imprisonment for a term not exceeding five years, a fine of between $5,000 and $50,000, and shall also be liable to be punished shall be liable for caning of up to six strokes.