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 12 Stories
Showing 6 of 30 Stories
04 May 2019

I lost over $330 to Loan scam

I got scam by this company JR credit, I wanted borrow 1k. WhatsApp them, only to find out that I NEEDED to borrow from them as a record first, they transferred $200, then I have to transfer back to them…...

02 May 2019

Moneylender threatened me when I didn't want to take up loan offer

I wanted to get a loan. Received an SMS, thinking that they are licensed money lender and the interest rates they offer are lower than the local banks. Prior to loan disbursement, he asked for a "payment…...

22 Apr 2019

I was told to make multiple payments for my loan!

Got into contact with the Moneylender called Ivan from fast credit pte Ltd. Wanted to take a $10k loan over a period of 3 years. Gave him picture of my ic front and back along with my CPF statement. Was…...

24 Mar 2019

Illegal moneylender said that they didn't have a bank account which I could send money to

I was in need of cash, so I go online and search. After a few day ,I received an SMS about loan then and I take a look. In the text ,they say they are legal and provide a website that look real. So I…...

16 Mar 2019

I lost over $1k to loan scam

This man claim to be from cash mart which is a licensed moneylender. I let my guard down and provide my personal details as well as proof of EMPLOYMENT to him. He requested me to take up a short trial…...

15 Mar 2019

I was threatened to pay more to get my loan

Intended to loan amount from this company , fast cred?? pte . The person name in whatsapp is lucas/nick At 2 march 2019 Is wanted to loan cause urgent need money . So come to this company to Ask . This…...

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