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SINGAPORE: Police have busted an unlicensed money lending syndicate.

They raided 15 premises around the island during a five-hour operation early Friday morning.

More than S$130,000 was seized and 17 men were arrested.

Other items seized were computers, printers, mobile phones, ATM cards and bank books.

The haul also included records of people in debt and the tools that were used to harass them, such as paint and marker pens.

Police believe the syndicate has a monthly turnover of S$500,000 and about 1,000 records of people in debt in its databases.

It is also likely to be responsible for 230 cases of harassment across Singapore.

Wong Choong Mann, Assistant Director, Specialised Crime Division, Criminal Investigation Department, SPF, said: "This is the largest amount of money that we have seized from illegal money lenders since the formation of anti-money lending task force."


- CNA/so

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