Police said those arrested were between 18 and 66 years old.
The suspects allegedly opened bank accounts and gave their automated teller machine (ATM) cards and Personal Identification Number (PIN) to syndicates.
Three of them were also said to be runners who harassed clients and made bank transfers.
Under the Moneylenders Act 2010, a person is presumed to have assisted in the carrying on of the business of an unlicensed moneylender when a bank account or ATM card of any person is used to facilitate the carrying on of the business of moneylending by an unlicensed moneylender.
If convicted, first-time offenders may be fined between $30,000 and $300,000, jailed for a term not exceeding four years and given a maximum six strokes of the cane.
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