PUBLISHED ONAugust 14, 2026 4:15 AMUPDATEDAugust 14, 2026 5:52 AMBYSean LerA total of eight men and three women, aged between 18 and 77, were arrested on Wednesday (Aug 12) for their alleged involvement in supporting an unlicensed moneylending syndicate.
Police said in a news release on Thursday (Aug 13) that the syndicate is believed to be responsible for at least 25,500 ScamShield reports and at least 1,509 police reports, of which 883 were related to unlicensed moneylending.
During an islandwide enforcement operation on Wednesday, more than 100 officers conducted simultaneous raids at multiple locations.
The raids, involving officers from the Criminal Investigation Department, Police Intelligence Department and Special Operations Command, targeted people suspected of being involved in the syndicate.
The operation also targeted mobile phone retailers suspected of fraudulently registering postpaid SIM cards that were later used by the syndicate for unlicensed moneylending activities.
@asiaone More than 100 police officers carried out simultaneous raids at multiple locations. The islandwide enforcement operation on Wednesday (Aug 12) targeted persons believed to be involved in an unlicensed moneylending syndicate, as well as errant mobile phone retailers suspected of fraudulently registering postpaid SIM cards that were subsequently used by the syndicate for unlicensed moneylending activities. #sgnews #Singapore #Police #Crime ♬ original sound - AsiaOne
During the operation, over $410,000 in cash, two laptops, 22 mobile phones, 14 SIM cards and 24 bank cards were seized as case exhibits.
In addition, 29 bank accounts linked to the syndicate, with a combined balance of more than $106,000, were frozen, while cryptocurrencies valued at more than USD25,000 were also seized.
Preliminary investigations revealed that the 11 persons had allegedly assisted the syndicate in various capacities, including sending bulk SMS advertisements offering "fast cash" and "easy loans" using Singapore-registered mobile lines, lines, topping up these mobile numbers to facilitate the messaging activities, acting as runners, and providing their bank accounts to facilitate unlicensed moneylending transactions.
Of the 11 persons arrested, six men aged between 26 and 29 were charged in court on Thursday, while investigations against the remaining five individuals are still ongoing.
One of the six men charged is also assisting the Health Sciences Authority with investigations after he was found in possession of over 300 vaporisers and related components.
Most of the items seized are suspected to be vaporiser pods containing etomidate, and have been sent for testing.
Following the raids, another five men, aged between 20 and 52, were identified by the police for their alleged roles in the fraudulent registration of SIM cards, which were subsequently used by the syndicate to send bulk SMS advertisements promoting loan services.
They are assisting with ongoing police investigations.
Director of the Criminal Investigation Department, Senior Assistant Commissioner (SAC) Julius Lim, said the police will continue to take firm enforcement actions against those involved in unlicensed moneylending activities, regardless of their roles.
"Those who support these syndicates should expect to be dealt with firmly under the law," SAC Lim added.
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