Preliminary investigations reveal that five individuals are accused of harassment and intimidation of borrowers, while 40 others are suspected of aiding loan sharks through ATM transactions. Another 50 suspects allegedly assisted illegal lenders by opening and using their personal bank accounts.
The suspects, ranging in age from 14 to 76, are currently under investigation as authorities work to dismantle the criminal network involved in illegal moneylending.
The investigation is part of Singapore’s broader efforts to curb unlawful lending practices and protect vulnerable individuals from exploitation./.