Acting on information received, officers from the Criminal Investigation Department conducted an operation on 11 January 2011 and busted two separate groups believed to be involved in issuing unlicensed loans to foreign domestic workers. A total of five persons aged between 28 and 69 years old were arrested in the operation.
The first group involved three persons, namely a 69-year-old male Singaporean and two Filipina domestic workers aged 28 and 36 years respectively. This group is suspected to have issued loans to more than 200 other Filipina domestic workers since June 2010.
The second group involved a 47-year-old female Singaporean and a 29-year old Filipina domestic worker. They are believed to have issued loans to about 40 domestic workers since January 2009.
The three Filipina suspects and the female Singaporean will be charged in Court on 13 January 2011 for offences under the Moneylenders Act. Investigations against the remaining suspect are still ongoing.
Under the Moneylenders Act, persons found guilty of operating or assisting in the operating of a loansharking business may be fined not less than $30,000 and up to $300,000 with mandatory imprisonment of up to four years and shall be liable for caning of up to six strokes.
Source: PUBLIC AFFAIRS DEPARTMENT SINGAPORE POLICE FORCE