Updated: 03/06/2014 22:43

Fall in unlicensed moneylending and loanshark harassment by more than 55% from 2009-2013



Fall in unlicensed moneylending and loanshark harassment by more than 55% from 2009-2013

The number of unlicensed moneylending and loanshark harassment cases has fallen by more than 55 per cent in the past 4 years. 

It dropped from a high of over 18,000 cases in 2009 to over 8,000 cases last year. 

This was revealed by Deputy Prime Minister Teo Chee Hean during the Home Affairs Ministry's Committee of Supply debate. 

Mr Teo who's also the Home Affairs Minister attributes this to a combination of factors. 

"A coordinated and integrated approach including strengthened laws, coordinated and sustained enforcement, effective use of technology and strong community partnerships, brought the UML issue under control."

Mr Teo says police cameras that were installed in over 2,000 HDB multi-storey carparks and residential blocks have played a strong role in deterring unlicensed moneylending operators. 

Some 10,000 volunteers in Citizens-on-Patrol groups, who patrol their own neighbourhoods also promote a greater sense of vigilance. 

Mr Teo says because unlicensed moneylending syndicates are now transnational, with ringleaders based overseas, Home Team investigation officers are also working closely with their overseas counterparts.

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