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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  • Ads that reach out to you through social media, SMS or messaging apps or even cold calls
  • Fake business websites might be created to convince you that they are legitimate
  • Instant, fuss-free loan approvals
  • Requests for fees

What you should look out for

  • Ads that reach out to you through social media, SMS or messaging apps or even cold calls
  • Fake business websites might be created to convince you that they are legitimate
  • Instant, fuss-free loan approvals
  • Requests for fees

What you should do

RELATED SCAM STORIES

Showing 6 of 113 Stories
Showing 6 of 30 Stories
28 Oct 2020

SMS advert from "DBS" offering loan turned out to be a fake

I received an SMS claiming to be from "DBS" Bank. However, the sender included a mobile phone number as the contact point to request for the loan and to direct all enquiries to. I immediately knew that…...

16 Oct 2020

I lost $900 to Loan scam

I was looking for personal loan from banks for another debt i had to clear but i was mostly not eligible. I researched on licensed moneylenders and found this website which i checked was under "MOL" registered…...

15 Oct 2020

Moneylender turned out to be a scammer

I was looking to borrow money from a moneylender and came across this website -  www.sg-loanhu?.com/ After providing my contact details, I received a text which informed me to transfer some fees over…...

30 Sep 2020

I was asked to pay various fees before I could get my loan

I was googling for personal loan and stumble upon this website and the company was called credit-8?, i wanted to take up a $4k loan and was contacted by a guy called christian, he called me once and susequently…...

28 Sep 2020

Licensed moneylenders are not allowed to advertise their services

Was in need of some cash. Browsed through Facebook and saw this ad from joth?moneylender. A guy named Samuel contacted me. He forged email from MAS and asked me to transfer admin fee, validation fee and…...

23 Sep 2020

I was asked to pay different fees to secure my loan!

A Whatsapp message advertising loans with loan interest rates was sent to me. I messaged the person named "Ben". He asked me to send my work permit front and back after that he sent me the agreement and…...

Have you encountered a scam?

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