Police investigating 77 people, including 19-year-old, for alleged unlicensed moneylending activities

A total of 77 individuals, including a 19-year-old, are being investigated by the police for their alleged involvement in unlicensed moneylending activities.Police said on Tuesday (Oct 6) that they conducted an islandwide enforcement operation from Sept 21 to 25 by officers from the Criminal Investigation Department and the seven police land divisions.Preliminary investigations revealed that seven people had allegedly harassed debtors at their residences, while 38 others were runners who assisted in unlicensed moneylending activities by carrying out ATM transfers.Also under investigation are 32 individuals who are believed to have opened bank accounts and provided their ATM cards, personal identification numbers as well as internet banking tokens to unlicensed moneylenders to facilitate their illegal operations.Police investigations against all 77 individuals are ongoing.If found guilty of acting on behalf of an unlicensed moneylender to commit or attempt to commit any acts of harassment, the seven suspects may be jailed for up to five years, fined between $5,000 and $50,000, and receive three to six strokes of the cane.