Nine investigated for helping syndicate linked to scams, moneylending and sending pork parts to debtors
The police are investigating nine people, aged between 32 and 71, for their suspected involvement in unlicensed moneylending activities and registration of SIM cards for illicit purposes.
This follows an island-wide enforcement operation conducted from Jan 22 to 26.
During the five-day operation, officers from the Unlicensed Moneylending Strike Force of the Criminal Investigation Department conducted raids island-wide.
Preliminary investigations revealed that the nine individuals had allegedly assisted an unlicensed moneylending syndicate believed to be responsible for more than 30 police reports linked to unlicensed moneylending and scam activities.
The syndicate is also believed to be responsible for at least five reports of harassment of debtors by sending pork parts to their residences.
The nine people are also believed to have assisted the syndicate by performing Automated Teller Machine (ATM) transfers, providing personal bank accounts and registered SIM cards to facilitate the syndicate's unlicensed moneylending operations and harassment activities.
Cash amounting to about $6,000, nine ATM cards, three mobile phones and one unused SIM card were seized as case exhibits.
Investigations against all the nine suspects are ongoing.
Under Section 19 of the Moneylenders Act 2008, any first-time offender who carries on or assists in carrying on a business of unlicensed moneylending shall be liable on conviction to a fine of not less than $30,000 and not more than $300,000, to imprisonment for a term not exceeding four years, and to caning of not more than six strokes.
Under Section 47 of the Moneylenders Act 2008, any first-time offender who acts on behalf of an unlicensed moneylender to commit or attempt to commit acts of harassment shall be liable on conviction to imprisonment for a term not exceeding five years, to a fine of not less than $5,000 and not more than $50,000, and to caning of not less than three and not more than six strokes.
Under Section 39B(1) read with 39B(2)(a) of the Miscellaneous Offences (Public Order and Nuisance) Act 1906, any person who knowingly provides a registered SIM card to another person to facilitate a crime for any gain shall be liable on conviction to a fine not exceeding $10,000 or imprisonment for a term not exceeding three years, or both.
The police will continue to take firm enforcement actions against those involved in helping unlicensed moneylending syndicates. This includes acting against individuals who open or give away their bank accounts to aid unlicensed moneylenders.
Anyone who allows their bank accounts to be used by unlicensed moneylending syndicates for transactions may be prosecuted and barred from using ATM and internet banking for a year.
Unlicensed moneylenders will not hesitate to carry out persistent and dangerous harassment acts on the borrowers and their families, such as setting fire, and splashing paint at their residences, and locking the gates using chains or bicycle locks to confine the occupants.
Members of the public are advised to stay away from unlicensed moneylenders and not to work with or assist them in any way.
Foreigners found to have borrowed from or convicted for aiding the unlicensed moneylenders may also have their student or work passes cancelled and subsequently deported from Singapore.
For more information on misuse of SIM cards, members of the public can visit this website.
Members of the public can also call the police at '999', the police hotline at 1800-255-0000 or submit information online at www.police.gov.sg/i-witness if they suspect or know of anyone who could be involved in unlicensed moneylending, scams or any illicit activities.
All information provided will be kept confidential.
See something interesting? Contribute your story to us.
Explore more on these topics
