Channel NewsAsia

124 people arrested in islandwide anti-loansharking operation

Police have arrested 124 people in an islandwide anti-loansharking operation.

SINGAPORE: Police have arrested 124 people in an islandwide anti-loansharking operation.

The suspects comprised 86 men and 38 women who are aged between 15 and 64.

Simultaneous raids were conducted at multiple locations during the 61-hour operation.

Of those arrested, four are believed to be involved in loansharking activities as runners who would collect ATM cards and loan repayments and carry out ATM transfers.

Nine other suspects are believed to have provided false contact information when obtaining loans from loansharks.

The remaining 111 suspects are believed to have opened bank accounts and given away their ATM cards and Personal Identification Numbers (PINs) to loansharks to facilitate their unlicensed moneylending businesses.

Investigations against all the suspects are ongoing.  

Tweet Photos, Videos and Update on this Story to  #cna