What information did 36 suspects hand over to facilitate illegal lending?

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36 Suspects Provided Bank Account Details and Access to Facilitate Unlicensed Moneylending

Thirty-six individuals are under investigation for allegedly opening bank accounts and subsequently handing over their ATM cards, PINs, or internet banking tokens to facilitate illegal lending activities. This action by the suspects is believed to have directly aided unlicensed moneylenders in their operations. The broader investigation, which involved islandwide raids conducted by the Singapore police between July 1 and July 7, is looking into a total of 69 individuals for suspected involvement in unlicensed moneylending, with ages ranging from 15 to 76.
Suspects Opened Bank Accounts for Illegal Lending

The primary role of these 36 suspects, as indicated by preliminary findings, was to establish bank accounts. These accounts were then used to channel funds related to unlicensed moneylending operations. The specific act of opening these accounts is considered a crucial step in enabling the illegal financial transactions.
Handover of ATM Cards and PINs Enabled Transactions

Following the opening of bank accounts, the suspects allegedly provided their ATM cards and associated PINs to facilitate the movement of money. This direct handover of access credentials allowed illicit lenders to withdraw funds or conduct transfers without the account holders' direct involvement in each transaction.
Internet Banking Tokens Were Also Provided

In addition to physical ATM cards and PINs, the group of 36 also surrendered internet banking tokens. These tokens are essential for authenticating online banking transactions, meaning their handover granted unlicensed lenders the ability to access and control online banking activities associated with the accounts. This measure further streamlined the process for illegal lending facilitators.

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What information did 36 suspects hand over to facilitate illegal lending?

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