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Unlicensed moneylenders, also known as 'loansharks' or 'Ah Longs', often target financially vulnerable individuals. Their victims are often people who struggle to obtain legal loans but urgently need money for living expenses or to pay off existing debts.

• Unlike the banks, unlicensed moneylenders offer high-interest loans without assessing your ability to repay, often trapping borrowers in cycles of debt.
• Unlicensed moneylenders often use harassment tactics and threats of violence to enforce repayment.
• Unlicensed moneylenders may add hefty penalties for missed repayments, compounding your debt.
• In many cases, the harassment can persist even after borrowers have settled their debts.

SPF Anti-Unlicensed Moneylending

• They are not listed on the official list of licensed moneylenders (which can be found here).
• They offer loans through unsolicited calls or messages.
• They do not verify your identity at their official place of business.
• They approve loans remotely without any in-person meeting.
• They demand upfront payments before loan disbursement (such as GST, admin fee, processing fee or any other fees).

• If you encounter unlicensed moneylending activities and suspicious individuals, report them to the police immediately.
• Join the Citizens on Patrol – Participate in neighbourhood community groups that help patrol the area and watch out for each other.
• Educate family members and domestic workers about the dangers of unlicensed moneylenders and the consequences of involvement, including having their work pass revoked.
• Ignore suspicious loan advertisements. If it sounds too good to be true, it usually is.
• Do not reply to scam or unsolicited messages. Instead, block the number and report it as spam.
• Keep your personal and financial information safe. Do not share your NRIC, SingPass or bank account details to anyone.
• Stay away from unlicensed moneylenders to avoid falling into a vicious cycle of harassment and debt.
• Be careful of loan scams, where scammers masquerade as licensed moneylenders. Learn more on loan scams here.

• Stay away from unlicensed moneylenders and do not work with or assist them in any way.
  
  
• The Moneylenders Act 2008 states that if a person’s bank account, SIM card, ATM card or Internet Banking token is used to facilitate unlicensed moneylending, the person is presumed to have assisted in the illegal business.
  
  

• First-time offenders found guilty of carrying on or assisting in unlicensed moneylending face:
  • ­Imprisonment of up to four years
  • ­A fine between $30,000 and $300,000
  • ­Caning of up to six strokes.
    
    
• First-time offenders found guilty of harassment on behalf of an unlicensed moneylender face:
  • ­Imprisonment of up to five years
  • ­A fine between $5,000 and $50,000
  • ­Caning of up to twelve strokes.
    
    
• Remember, any involvement with unlicensed moneylenders, no matter how small, can lead to these serious penalties. Protect yourself and your community by staying clear of such activities.

If you are in financial difficulty, seek help before it’s too late.

• Credit Counselling Singapore: 6225-5227 (www.ccs.org.sg)
• National Council on Problem Gambling: 1800-6-668-668 (www.ncpg.org.sg)
• ComCare: 1800-222-0000 (www.msf.gov.sg/comcare)

Verify unsolicited invitations to take a loan

• Call the anti-scam helpline at 1799.
  
  

Report unlicensed moneylending or loan scam

• Submit your report online via i-Witness.
• Call the Police hotline at 1800-255-0000.
• File a Police report at your nearest Neighbourhood Police Centre.
• Call ‘999’ if urgent police assistance is needed.