PUBLISHED ONApril 03, 2026 12:37 AMBYSean LerA 16-year-old teenager is among 82 people under police investigations for their alleged involvement in unlicensed moneylending activities.
Police said in a news release on Thursday (April 2) night that they conducted an enforcement operation against unlicensed moneylending activities from March 25 to 31.
The operation saw officers from the Criminal Investigation Department and the seven police land divisions conduct raids across Singapore.
Preliminary investigations revealed that eight persons had allegedly harassed debtors at their residences.
Also under investigation are 14 individuals believed to have acted as runners, assisting in unlicensed moneylending activities by carrying out Automated Teller Machine (ATM) transfers.
The remaining 60 people allegedly opened bank accounts, provided ATM cards and personal identification numbers, as well as internet banking tokens to illegal moneylenders to facilitate their unlicensed activities.
Police investigations against all 82 individuals are ongoing.
If found guilty of acting on behalf of an unlicensed moneylender to commit or attempt to commit any acts of harassment, the five suspects may be jailed for up to five years, fined between $5,000 and $50,000, and receive three to six strokes of the cane.
Those found guilty of facilitating moneylending by an unlicensed moneylender using a bank account, ATM card or internet banking token face a jail term of up to four years, a fine between $30,000 and $300,000, and up to six strokes of the cane.
Additionally, those who allow their bank accounts to be used by unlicensed moneylending syndicates for transactions may face prosecution and a ban from using ATM and internet banking facilities for a year.
The police also advised members of the public to stay away from unlicensed moneylenders and not to work with or assist them in any way.
They also warned youths that firm action will be taken against those who deliberately vandalise property, cause annoyance or disrupt public safety, peace and security.
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