Loan Scam

WHAT IS A Loan Scam?

SMSes or WhatsApp messages are sent offering loans and loan services to random users. The scammers may claim to be staff from a licensed moneylender. Interested parties are instructed to transfer money as a deposit before the loan can be disbursed. After making the transfer, victims find that the scammers are no longer contactable. As part of these scams, the scammers may ask for personal information like NRIC and contact numbers, Singpass details and bank account numbers. When handed over, the information is used to harass or threaten victims for payment.




  • Advertisements on messaging platforms. It is illegal for licensed moneylenders to advertise via SMS or WhatsApp.

What to look out for

  • Advertisements on messaging platforms. It is illegal for licensed moneylenders to advertise via SMS or WhatsApp.

How to protect yourself


Showing 6 of 33 Stories
Showing 6 of 30 Stories
15 Sep 2019

Scammers started to harass me when my bank account got frozen

was sourcing out for personal loan online when bumped into website looks legit, with office address , phone number and moneylending license provided. enquired via whatsapp and a representative…...

12 Sep 2019

Scammer wanted me to put down a deposit to secure my "loan"

received a Whatsapp text messages 2 weeks ago (no. +91 73238 19746). i checked it out, person name "martin" replied. he requested for my nric, singpass. all seems normal. till there was a transferred…...

11 Sep 2019

I lost to $1,000 to Loan scam!

Was urgent on cash so replied to a quick loan msg wanting to loan 10k. At first they transferred 600, and said to deposit back 800. The extra 200 is for a record of transaction before a loan can be dispersed…...

04 Sep 2019

Unknown money was transferred into my bank account!

i saw a post in carousell, posted by JOHNBLACK88 (also called ken), on "luxury watch easy instalment plan". on 15th Aug, i responded to it and gave my personal details, including my nric and bank details.…...

03 Sep 2019

Don't fall prey to Loan scams!

responded to a sms regarding "easy loans with competative rates". after couple of atm bank transfers, internet bank transfer & cash deposits... "loan" was still unable to be processed due to multiple…...

03 Sep 2019

Please do not fall prey to Loan scam!

do not believe in any loan offer via sms or media social. i had a painful experience which cause my life in mess now! due to financial issue, i had approached the guy - derek after receive a sms on the…...

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