Police uncover widespread syndicate activity during five-day islandwide operation, spanning runners to harassment cases.

Singapore police are investigating 93 people aged 16 to 70 for suspected involvement in unlicensed moneylending following a five-day suppression operation in late August. The probe revealed roles ranging from account providers to harassment enforcers.

Islandwide Raids Target Loan Syndicates

From August 25 to 29, officers from the Criminal Investigation Department and all seven police land divisions carried out simultaneous raids across the island. Their coordinated effort exposed the varied methods used by illegal moneylending syndicates to expand their operations.

Breakdown of Roles

Preliminary findings showed:

• 43 individuals, including a 16-year-old boy, allegedly opened bank accounts and handed over ATM cards, PINs, and internet banking tokens.
• 38 individuals acted as runners, assisting syndicates with ATM transfers.
• 11 suspects were involved in harassing debtors at their homes.
• 1 person allegedly provided false contact information to loan sharks.

Penalties Under Moneylenders Act

Under the Moneylenders Act 2008, anyone whose bank account or ATM card is used by illegal lenders is presumed to have assisted their activities. First-time offenders face:

• Up to four years in jail, fines ranging $30,000 and $300,000, and up to six strokes of the cane.
• Those involved in harassment face up to five years in jail, fines of $5,000 to $50,000, and caning of three to six strokes.
• Providing false contact information could result in up to 12 months’ imprisonment.

Police Warning to the Public

Authorities stressed that they will continue tough action against individuals who knowingly aid loan sharks, including those who allow their bank accounts to be used. Such individuals may also be barred from ATM and internet banking services for a year.

Loan Shark Harassment Risks

Police warned that unlicensed moneylenders often resort to aggressive and dangerous harassment tactics, such as splashing paint, setting fires, and chaining gates to confine occupants. These actions endanger not just borrowers but also their families and neighbors.

Foreigners at Risk of Deportation

Foreign nationals convicted of aiding or borrowing from unlicensed moneylenders will have their student or work passes cancelled, and face deportation.

The crackdown underscores Singapore’s zero-tolerance stance against unlicensed moneylending syndicates. For communities in Indonesia and Singapore, the case highlights the dangers of illegal lending networks and the heavy penalties for those who aid them, whether knowingly or unknowingly.

Sources: AsiaOne (2025) , Singapore Police Force (2025)

Keywords: Unlicensed Moneylending, Singapore Police, Teen Involvement, Moneylenders Act 2008, Loan Shark Syndicates, ATM Card Misuse