SINGAPORE - A total of 113 people, aged 16 to 69, are under investigation for their suspected involvement in unlicensed moneylending activities.
Preliminary investigations revealed that 12 suspects had allegedly harassed debtors at their residences, and 17 suspects are believed to be runners who had assisted in unlicensed moneylending businesses by carrying out automated teller machine transfers. Those convicted of carrying on or assisting in a business of unlicensed moneylending face jail of up to four years, a fine of between $30,000 and $300,000, and up to six strokes of the cane.
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