More than 100 officers raid multiple locations, bust alleged loanshark syndicate linked to 25,500 ScamShield reports
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A total of eight men and three women, aged between 18 and 77, were arrested on Wednesday (Aug 12) for their alleged involvement in supporting an unlicensed moneylending syndicate.Police said in a news release on Thursday (Aug 13) that the syndicate is believeMore than 100 officers raid multiple locations, bust alleged loanshark syndicate linked to 25,500 ScamShield reports
A total of eight men and three women, aged between 18 and 77, were arrested on Wednesday (Aug 12) for their alleged involvement in supporting an unlicensed moneylending syndicate.Police said in a news release on Thursday (Aug 13) that the syndicate is believed to be responsible for at least 25,500 ScamShield reports and at least 1,509 police reports, of which 883 were related to unlicensed moneylending.During an islandwide enforcement operation on Wednesday, more than 100 officers conducted simultaneous raids at multiple locations.The raids, involving officers from the Criminal Investigation Department, Police Intelligence Department and Special Operations Command, targeted people suspected of being involved in the syndicate.The operation also targeted mobile phone retailers suspected of fraudulently registering postpaid SIM cards that were later used by the syndicate for unlicensed moneylending activities.During the operation, over $410,000 in cash, two laptops, 22 mobile phones, 14 SIM cards and 24 bank cards were seized as case exhibits.














