SINGAPORE: A 15-year-old is among 69 people being investigated for their suspected roles in unlicensed moneylending activities following islandwide raids in early July.
The 69 people, aged 15 to 76, were hauled up after a seven-day operation from July 1 to 7 by officers from the Criminal Investigation Department and the seven police land divisions, the police said in a statement on Thursday (July 9).
Preliminary investigations found that nine people had harassed debtors at their homes, and 15 people were runners who had assisted in unlawful moneylending activities by carrying out ATM transfers, said the police.
Another 36 people are believed to have opened bank accounts and provided their ATM cards, personal identification numbers, and/or internet banking tokens to facilitate such activities.
Acting on information from their Malaysian counterparts, the Singapore police are also investigating the remaining nine individuals, aged between 18 and 67, for their suspected involvement in cross-border moneylending activities.
The three men and six women are believed to have provided their mobile numbers and bank accounts to unlicensed moneylenders in both Malaysia and Singapore.
Actions such as supplying a phone line, bank account, ATM card, or internet banking tokens to facilitate moneylending by an unlicensed moneylender are regarded as carrying on or assisting with these illegal operations, the police added.
First-time offenders convicted of carrying on or assisting in an unlicensed moneylending business can be punished with up to four years’ jail, a fine of $30,000 to $300,000, and given up to six strokes of the cane.
Those found guilty of acting on behalf of an unlicensed moneylender to commit or attempt any acts of harassment will be punished with up to five years’ jail, a fine of $5,000 to $50,000, and given between three and six strokes of the cane.
The police caution members of the public that unlicensed moneylenders will not hesitate to carry out persistent and dangerous acts of harassment against borrowers and their families.
These include setting fires, splashing paint at residences, and locking the gates using chains or bicycle locks to confine the occupants, said the police.
Individuals with information on unlicensed moneylending activities can call the police on 999 or 1800-255-0000, or submit information online via the i-Witness portal.
All information provided will be kept confidential, said the police. - The Straits Times/ANN
