SINGAPORE — A total of 158 people are being investigated for their alleged involvement in unauthorized money lending activities.
Police said in a press statement on Tuesday, June 6, that their ages ranged from 15 to 72.
Officers from the Criminal Investigation Department and the Police Land Division 7 conducted a simultaneous search across the island from May 29th to June 1st.
Preliminary investigation revealed that 10 people were suspected of harassing the debtor at his residence.
Another 48 suspects are believed to be runners who facilitated unauthorized money lending operations, such as making transfers at automated teller machines (ATMs).
The remaining 100 suspects are believed to have opened bank accounts and provided ATM cards, personal identification numbers, or internet banking tokens to unauthorized money lenders.
Police investigation continues.
Under the Money Lending Business Act 2008, an offender who conducts or facilitates an unauthorized money lending business can be sentenced to up to four years' imprisonment, a fine of between S$30,000 and S$300,000, and up to six lashes of the cane. You will be punished.
Anyone who commits or attempts to commit harassment on behalf of an unauthorized moneylender faces up to five years' imprisonment, a fine of between S$5,000 and S$50,000, and three to six lashes of the cane. Masu.
Police said they will continue to crack down on those involved in unlicensed money lending, regardless of their role, and ensure that they face the full brunt of the law.
This includes taking action against those who open or transfer bank accounts to facilitate unauthorized money lenders.
“Unauthorized lenders are increasingly using text messaging and online platforms to send unsolicited loan advertisements. The public does not respond or respond to such advertisements. , we would like to remind you to report these messages as spam,” police said.
The public can call police at 999 or the X-Ah Long hotline at 1800-924-5664 to report unauthorized moneylending operations.
