Tag: loan sharks

13-year-old youngest among hundreds arrested in anti-loan shark drive

Singapore—A massive anti-loan shark operation by the police resulted in the arrest of 316 people, the youngest of whom is 13 years old. The oldest...

Police raids net 237 people for suspected loansharking activities

Singapore -- The police have arrested 237 people (160 men and 77 women) between the ages of 13 and 77 for suspected involvement in...

1,700 people fall prey to loan scams with losses amounting to S$6.8 million in...

Singapore—There were 1,700 reported cases of loan scams from January to November 2019. Victims lost about S$6.8 million from the scams. According to the Straits...

Johor loan sharks targeting Singapore workers jailed

Johor Baru — Loan sharks are targeting workers in Singapore and charging interest rates of 24 percent to 60 percent per year. After a series...

Remittance firms charging maids exorbitant interest fees on loans will be stopped, says MAS

To protect the interests of foreign domestic helpers, the Monetary Authority of Singapore (MAS) strongly prohibits remittance firms to continue providing loan services to...
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