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.

icon_cases_reported

OF CASES REPORTED
icon_worth_lost

$

WORTH OF MONEY LOST
image_advices
  • 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

RELATED SCAM STORIES

Showing 6 of 70 Stories
Showing 6 of 30 Stories
24 Feb 2020

Licensed moneylenders are not allowed to advertise their services!

got sms on 17th,Feb regarding the personal loan from hansen, phone no : 90972554. as i need some money to clear my current bank loan, so i text the person to check the detail, after agree the amount,…...

22 Feb 2020

Take loans from licensed moneylender

First, they will msg you and call you to ask you to pick up loans. Its kinda weird when u search on the net for loans and they have your number when you put on the website for enquiry. Seems like they…...

20 Feb 2020

Do not respond to loan advertisements!

i was receive a message from Whatsapp for loan package with 10k for 60months, and i reply with the number given for enquiry, they asked for my IC, payslip and CPF statement to check, i Prepared and send…...

19 Feb 2020

Don't respond to loan advertising adverts

I first reply to a whatsapp. The loan seems simple enough- 10K loan and a repayment of $450 per month. Like a fool i forwarded the requireD documentS - IC BACK AND FRONT, passport ID, BANK ACCOUNT DETAIL…...

16 Feb 2020

Make sure that the moneylender that you are dealing with is registered with Ministry of Law

Currently ive been scam by this name jasper tan claim to be in 1x credit loan. Which i google up the Company nowhere to be found. Been scam by him 450 on his trail loan which ihe transfer me 450 and i…...

11 Feb 2020

Licensed moneylenders are NOT allowed to advertise their services online

They are UNLICENSED money lender https://www.facebook.com/cashwaysingapore88/ pls catch them and bring down their website so that others will not become victim...

Have you encountered a scam?

Share your stories. Help create awareness.
Share Your Story