- POSTED: 14 Jun 2014 22:51
127 people have been arrested for alleged loansharking activities after a three-day islandwide blitz.
SINGAPORE: 127 people have been arrested for alleged loansharking activities after a three-day islandwide blitz.
The suspects, aged 16 to 69, were picked up in simultaneous raids conducted by the Criminal Investigation Department (CID) and six Police divisions.
According to preliminary investigations, one suspect had allegedly provided false contact information to loansharks which led to an innocent house owner being harassed.
19 others are believed to be harassers, or runners.
They allegedly helped loansharks by obtaining Automated Teller Machine (ATM) cards, carrying out ATM transfers and advertising loan facilities.
The rest of those arrested are suspected of aiding loansharks by opening bank accounts and giving away their ATM cards and Personal Identification Numbers (PINs).
CID's Head of the Unlicensed Moneylending Strikeforce, Superintendent of Police Aileen Yap said, "By opening or giving away one's bank account to the unlicensed moneylenders, these like-minded individuals have not only assisted the unlicensed moneylenders in their businesses but also facilitated them to evade Police detection. Police will continue to clamp down hard on all those who are involved in loansharking activities."
The suspects face varying punishments, ranging between a maximum fine of S$300,000 and six strokes of the cane.