19 arrested for loansharking in 2 day operation

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12 men and seven woman aged between 18 and 70 were arrested in three separate cases of loansharking activities, between July 18 and 19.

In the first case officers from Jurong Police Division mounted an islandwide operation covering Telok Blangah, Tampines, Jurong West, Ang Mo Kio and Changi housing estates, resulting in the arrest of nine suspects for suspected involvement in loansharking activities.

On July 18, officers from Ang Mo Kio Police Division arrested a suspect in the vicinity of Yishun Central for suspected involvement in loansharking activities.

Investigations from the arrests revealed that the suspects are believed to have opened bank accounts and gave away their ATM cards and Personal Identification Numbers (PIN) to loansharks to facilitate the business of unlicensed moneylending.

In a separate two day operation officers from Clementi Police Division conducted simultaneous raids in Jurong West, Choa Chu Kang, Sembawang, Yishun, Ang Mo Kio, Hougang and Bedok resulting in the arrests of nine suspects.

As with the two other cases those arrested had given away their ATM cards and PIN to loansharks to facilitate the business of unlicensed moneylending.

However, three other suspects had also assisted the loansharks in their businesses by conducting bank transfers.

Several bank cards, transaction receipts, one bank account book, cash of about $1,900 and one mobile phone had been seized.

If found guilty the accused can be fined between $30,000 and $300,000, they can also be jailed for four years and receive up to six strokes of the cane.