Beware of unlicensed moneylenders or loan scams

Anonymous | 13 Feb 2021

Loan Scam

I saw a loan company from a website call Sg Credi? and I submittd an application. The person called Bernard Yeap replied. He told me about the process. From the application he mentioned that i need to pay him 1. $700.00 for 1 month deposit which uob required and $2500.00 for his administration fee which mas required. So i transfer him. I signed a contract with him. Then he said he transer by tomorrow the $25k that i asked for. Next day he said they transacte wrongly at $50k but cannot release the money because i need to pay another $700.00. So i asked them. They are sure once i pay $700 they will send over. After 3rd transfer, they send email using MAS said i need to pay another $5000.00 which i not right. I argue with bernard. He asked me go MAS and they won’t transfer until paid another $5000.00. From here, I realised that it was a scam that was planned to let me hook on. I checked on register of money lender, they supposed not to collect any fee from borrower. They can only deduct from the loan.

Please beware of unlicensed moneylenders!