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.

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OF CASES REPORTED
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$

WORTH OF MONEY LOST
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  • 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 19 Stories
Showing 6 of 30 Stories
08 Jul 2019

I've lost $1500 to loan scam

I was unemployed for 2 months and in need of a cash then a text message with an ad from "JenseN" was sent to me. I was in desperate need, so i whatsapp the number 85799501 with my enquiry. "JenseN" asked…...

03 Jul 2019

Scammer impersonated our company to offer loans

We received Whatsapp message from victim on 29 june 2019. our office was closed on that day. she asked if we have a staff named Eddy Koh and she has paid the secure fee $3820 in total to release the loan…...

19 Jun 2019

"Moneylender" kept asking me to transfer money for various reasons to "activate" my loan

I was in need of money at that point in time, I was lured by an ad that was sent to me by WhatsApp. On June 15, I went to inquire on the loan, the person asking for my particular, bank account number…...

16 Jun 2019

I was threatened by scammer!

I wanted to get a mobile via a loan. And I came across this scammer. He asked for our nric and payslips. Then once approve no contract was given. They just say they would transfer the loan of $1300 money…...

10 Jun 2019

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

Received an SMS on the advertised loans. I asked for more details and scammer requested for personal data such as front and back of my nric, bank account number, cpf Contribution History and 3 next of…...

09 Jun 2019

I lost over $3,000 to Loan scam

Saw an advertisement on Facebook loan so took up the loan of $5k and monthly installment plan of $290X24 month,trail loan of $250 was given, and was asked to pay $150 in order to process with the loan,but…...

Have you encountered a scam?

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