Ninety-three persons, including a 16-year-old male teenager, are being investigated by the police for their suspected involvement in unlicensed moneylending activities.

Their alleged involvement was uncovered during a five-day unlicensed moneylending suppression operation from Aug 25 to 29, the police said on Wednesday (Sept 3).

In response to AsiaOne's queries, police said that the 16-year-old is among 42 others believed to have opened bank accounts and provided their Automated Teller Machine (ATM) cards, personal identification numbers (PIN), internet banking tokens to unlicensed moneylenders to facilitate unlicensed moneylending activities.

Thirty-eight others are believed to be runners who had assisted in unlicensed moneylending activities by carrying out ATM transfer, with another 11 alleged to have harassed debtors at their residence.

The last person is alleged to have provided false contact information to the unlicensed moneylender. 

Under the Moneylenders Act 2008, a person whose bank account, ATM card or internet banking token is used to facilitate moneylending by an unlicensed moneylender is presumed to have assisted in carrying on the business of unlicensed moneylending.

First-time offenders may face a jail-term of up to four years, a fine of at least $30,000 and a maximum sum of $300,000 and up to six strokes of the cane. They may also be barred from using ATM and internet banking facilities for a year.

First-time offenders found guilty of the offence of acting on behalf of an unlicensed moneylender to commit or attempt to commit any acts of harassment may be jailed up to five years, fined not less than $5,000 and not more than $50,000, and caned not less than three and not more than six strokes. 

Anyone found guilty of the offence of providing false contact information to an unlicensed moneylender, having reasonable cause to believe that the unlicensed moneylender will use the information to commit harassment, may be imprisoned for up to 12 months. 

Foreigners are also reminded that those found to have borrowed from or convicted for aiding the unlicensed moneylenders will have their student or work passes cancelled and subsequently deported. 

Those who suspect or know of anyone who could be involved in unlicensed moneylending activities can call the police hotline at 1800-255-0000, or submit information online at www.police.gov.sg/i-witness.

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editor@asiaone.com