Monthly Archives: July 2016

Can licensed moneylenders advertise?

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For people who do not know, there are strict advertising regulations for certain sectors that the government do not want Singaporeans to be exposed to a large extent. Moneylending is one of the sectors that the government is trying to contain.  These moneylenders have very strict advertising laws to follow. Moneylenders Reviews Moneylenders cannot advertise through the following: Adverts through SMS/emails/cold calls sent […]

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Singapore man owe loan sharks $13,000

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He is a security guard in Singapore who earns $1,600 a month. He is also a step-father to a pair of children, to whom half of his income goes to for monthly tuition fees. A cash flow problem was all it took for his debts to snowball, leading to him losing 11kg due to stress and […]

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Loansharking activities, suspects arrested

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The police have arrested 27 people, aged between 24 and 66, for their suspected involvement in loansharking activities. During the three day operation, officers conducted raids at multiple locations in Singapore. During initial investigations the four suspects are believed to be runners. They have assisted the loansharks in their business by carrying out Automated Teller Machine (ATM) transfers, […]

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Loan sharks set fire, toddler sent to hospital

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A 14 month old child was send to the hospital due to smoke inhalation. Loan sharks allegedly set fire to his parents’ rental flat just two weeks after moving in. They went to bed at about 1am that night, when there was no sign of anything unusual. The main door however is set on fire forty five minutes later. […]

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Youths lured into loansharking activities

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Online adverts and social media lure these youths in by promising fast and easy cash. Youngsters who apply for these employments soon discover that they need to carry out loansharking activities, including badgering of borrowers. A significant number of them, pulled in by the pain free income on offer, still join. Many of them get caught for overstepping […]

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