The Singapore Police Force recently concluded a five-day islandwide operation targeting illegal lending activities, resulting in investigations into 77 individuals. Conducted between September 21 and 25 by the Criminal Investigation Department and various police divisions, the crackdown identified several roles played by the suspects. Seven individuals are accused of harassing debtors at their residences, while 38 served as runners facilitating transactions through ATM transfers. Additionally, 32 suspects are under investigation for providing unlicensed lenders with access to their bank accounts, including sharing ATM cards, PINs, and internet banking tokens. Authorities are currently processing these cases under the provisions of the Moneylenders Act 2008, which outlines strict penalties for those who assist or enable illegal lending operations through financial accounts or communication tools.
Source : Mothership
Photo : Mothership
