Pair to be charged over alleged involvement in unlicensed moneylending activities
A 47-year-old man and a 37-year-old woman in Singapore are set to be charged for their suspected involvement in unlicensed moneylending activities.
The case came to light after the police were alerted to a dispute involving the pair and a debtor at 2 Seah Im Road on 8 June 2025.
Man allegedly lent S$19,300 to at least 13 borrowers
Investigations found that between February 2024 and May 2025, the man allegedly operated an unlicensed moneylending business, providing loans totalling about S$19,300 to at least 13 borrowers in Singapore.
Individual loans ranged from S$500 to S$3,000.
Source: thanomphong from Getty Images on Canva, for illustration purposes only
The woman is believed to have assisted him by helping to solicit borrowers for the loans.
Pair to be charged in court on 19 June
Both suspects are scheduled to be charged in court on Friday (19 June).
The man will face 18 counts of conducting a moneylending business without a licence under Section 5(1) of the Moneylenders Act 2008.
The woman will face eight counts of assisting in an unlicensed moneylending business under Section 19(1)(b)(i) of the Act.
Unlicensed moneylending offences carry hefty penalties
Under the Moneylenders Act, first-time offenders convicted of conducting an unlicensed moneylending business may face up to four years’ jail, a fine of between S$30,000 and S$300,000, and up to six strokes of the cane.
Repeat offenders may face up to seven years’ imprisonment, fines of between S$30,000 and S$300,000, and up to 12 strokes of the cane.
The police said they will continue to take tough enforcement action against those involved in unlicensed moneylending activities.
Members of the public are advised not to borrow from unlicensed moneylenders or assist them in any way.
Anyone with information about suspected unlicensed moneylending, scams, or other illicit activities can call 999, contact the police hotline at 1800-255-0000, or submit information through the i-Witness portal.
The police said all information provided will be kept confidential.
Also read: 16-year-old among 91 being investigated for involvement in unlicensed moneylending in S’pore
16-year-old among 91 being investigated for involvement in unlicensed moneylending in S’pore
Have news you must share? Get in touch with us via email at news@mustsharenews.com.
Featured image adapted from MJ_Prototype from Getty Images on Canva, for illustration purposes only.
