90 arrested, loansharking activities

Moneylender review - Arrested for loansharking activities
Moneylender review – Arrested for loansharking activities

Police have arrested 90 suspects suspected of loansharking activities. In a news release, SPF said that the 61 men and 29 women are nab in an islandwide anti loansharking operation. During the three day operation, officers conducted multiple raids at multiple locations in Singapore.

Initial investigations reveal one suspect is believe to be a runner who assist the loansharks in their businesses by carrying out cash transfers. Another four suspects are believe to have provided false contact information when obtaining loans from loansharks. While the remaining 85 suspects are believe to have opened bank accounts. In addition, they also gave away their ATM cards and Personal Identification Numbers (PINs) to loansharks to ease unlicensed moneylending businesses.

Last month, 27 suspects were arrested for alleged loanshark activities. Furthermore, 118 people were captured in a four day clampdown by the police in March.

There are strict punishments for anyone link with loanshark activities.

Article source: Channel News Asia. Read more here.
Image source: Google Images.

Leave a Reply

Your email address will not be published. Required fields are marked *