The Police are investigating seven persons for their suspected involvement in a case of loan scam after their bank accounts were found to have been used to receive money from a scam victim.  Preliminary investigations revealed that that the victim had fallen prey to a loan scam after he visited a bogus moneylender’s website. The victim was scammed into making numerous payments in order for his loan application to be approved by the bogus moneylender. The Police would like to alert the public that loansharks and scammers have turned to impersonating licensed moneylenders to deceive victims.  In some instances, they…

   The number of domestic helpers borrowing from licensed moneylenders has surged almost 20 times, in just under 3 years and many are defaulting on loans. What’s pushing our helpers to borrow? In this episode, Talking Point goes undercover to expose the shady business behind maid borrowing and reveals how it affects you and your helper.

Identifying difference between loan sharks and moneylenders at Thye Hua Kwan Family Service Centre @ Tanjong Pagar. Event was conducted at blk 118 Bukit Merah View.

19 Nov 2018 Posted in Parliamentary speeches and responses Mr Gan Thiam Poh (Member of Parliament for Ang Mo Kio GRC) Question To ask the Minister for Law (a) in the past 10 years, how many reports have been lodged by residents that their foreign domestic workers have borrowed from legal and illegal moneylenders respectively; (b) how many of such residents became the victims of harassment from loan sharks or legal money collectors respectively; and (c) whether there are plans to ban borrowings by foreign domestic workers from legal moneylenders. Written Answer: 1. The Registry of Moneylenders received no public feedback on foreign…