Singapore Police Investigate 98 People in Islandwide Unlicensed Moneylending Operation
Singapore Police are investigating 98 people for suspected involvement in unlicensed moneylending following a seven-day islandwide enforcement operation.
The suspects, aged between 17 and 78, were identified during an operation conducted from 25 to 31 August 2026 by officers from the Criminal Investigation Department and all seven Police Land Divisions.
Police said 46 of the suspects are believed to have acted as runners by carrying out ATM transfers, while another 41 allegedly opened bank accounts and handed over ATM cards, personal identification numbers or internet-banking tokens to unlicensed moneylenders.
Three suspects aged between 26 and 48 are being investigated for suspected involvement in cross-border unlicensed moneylending activities. Police said they allegedly provided bank accounts and mobile numbers and were linked to cases in Singapore and Malaysia.
Investigations against all 98 people are ongoing. The operation highlights the role of personal bank accounts and payment access in facilitating illicit financial flows even where the underlying offence is unlicensed moneylending rather than a conventional money-laundering prosecution.
Singapore Police warned that people who allow unlicensed moneylenders to use their bank accounts to facilitate illicit transactions may face prosecution and restrictions on ATM and internet-banking services for one year.
Under the Moneylenders Act 2008, first-time offenders found guilty of assisting an unlicensed moneylender may face imprisonment of up to four years, a fine of between S$30,000 and S$300,000 and up to six strokes of the cane, depending on the offence.
The case is particularly relevant to financial-crime controls because it shows how bank-account access can function as infrastructure for illegal lending networks. Detection of account sharing, rapid transfers and third-party control remains important for identifying accounts used to move illicit funds.
