Beware of loan scams!

Anonymous | 14 Sep 2021

Loan Scam
At first, this guy mentioned that he is legit. So I gave in and share my personal details such as (ic front and back), CPF contributions and several contact numbers. It was suspicious already that I have to do all of that on WhatsApp and not in real life but I ignored my gut feelings (which I totally regretted). He mentioned to me that I’ll have to deposit 200 to ''secure my loan credit". It is already fishy, I wanted to back out and I mentioned o him I don’t want this loan anymore and he said, he already transferred me 200 (I assumed that the person whom transferred it to me is one of the scam victims too) , so the next day I have to transfer back 400 to them.

So, the next day, I transferred $400 but the person scolded me cause I did not add remarks for the transfer. So I was told to transfer again. At this point, it's getting ridiculous. I wanted to stop but I remembered they have my ic, like address etc and phone numbers of the people around me. So i give in. I transferred again.

Told him I’m not interested anymore in the call, but he send me the agreement letter and pressured me into signing it. I told him I want to cancel even before the agreement letter, I signed to shut him up but he told me about the cancellation fee is 30%.

So I had to transfer $900. Which I did to stop all of these, but he acted confused, asking where's the other $900 transaction screenshot. I’m like huh why? He said to delete particulars. The agreement stated "cancellation/delete particulars" which means the total is $900. So I scolded him with their own agreement they made up, and he argued that he will return the $900 after deleting my particulars + $400 + $200 that I transferred earlier. If you are returning anyway why do I still have to transfer?

But I don't want to take the risk and give him another $900 so I photoshopped a fake transaction screenshot to stall some time while going to the police cos he kept messaging and calling me. It’s annoying.

So far, I haven't gotten any calls from these scammers with their other numbers, I have warned people around me about these to block immediately. I will gather the evidence and compile for the report I have lodged.

Editor's note: Loan scammers or unlicensed moneylenders will attempt to impersonate licensed moneylenders to cheat. Some will use licensed moneylenders' license number or create fake websites under their name. Please only contact licensed moneylenders through the contact details found on this website: List Of Licensed Moneylenders In Singapore ( Licensed moneylenders are also not allowed to approve loans remotely, such as Whatsapp or SMS.