PUBLISHED ONJune 18, 2026 8:15 AMBYSean LerA 47-year-old man and a 37-year-old woman were arrested for their alleged involvement in unlicensed moneylending activities.
Police said on Wednesday (June 18) that they were alerted to a dispute involving two persons and a debtor at Seah Im Food Centre on June 8.
Officers responding to the incident and established that the dispute arose over the repayment of a loan.
The two had allegedly conducted an unlicensed moneylending business by providing loans amounting to approximately $19,3000 to at least 13 borrowers in Singapore between February 2024 and May 2025.
According to the police, the individual loan amounts ranged from $500 to $3,000.
They also believe that the woman had assisted the man conducting such activity by soliciting borrowers.
The man faces 18 counts of conducting a moneylending business without a licence, while the woman faces eight counts of assisting in an unlicensed moneylending business.
They will be charged in court on Friday.
The offence of conducting moneylending business without a licence carries a penalty of up to $300,000, and up to six strokes of the cane.
Police reminded members of the public to stay away from loan sharks as they will not hesitate to carry out persistent and dangerous harassment acts on debtors and their families, such as setting fires, splashing paint at residences, and locking the gates using chains or bicycle locks to confine the occupants.
They are also advised not to work with or assist loan sharks in any way.
