SINGAPORE– An overall of 66 men and 26 ladies, aged between 17 and 77, were apprehended for their presumed involvement in loansharking activities after a three-day island-wide operation. In a statement on Thursday (July 27), the Police stated officers from the Criminal Investigation Department (CID) and 6 Police land divisions had actually carried out simultaneous…… Continue reading 92 captured in three-day anti-loansharking blitz

In light of the rising deceptive practices in personal moneylending, it’s crucial for you, as a potential borrower in Singapore, to be vigilant. Unlicensed moneylending (UML) syndicates, commonly known as loan sharks, have begun masquerading as licensed moneylenders (LMLs) to evade detection and expand their client base. This article aims to raise awareness and provide…… Continue reading Do not succumb to deceptive personal loans advertisements

She needed money to foot the bill, and took a loan from a guy who claimed to be a certified moneylender in Singapore. However when Mandy (not her real name) could not make the first payment a week later and the $250 loan skyrocketed to $400, she understood something was wrong. ” I asked him…… Continue reading Victims duped online and through WhatsApp

Prohibited moneylenders buy ads online to look genuine and post photos of customers to humiliate them into paying up In the video, he declares his name, NRIC number, and home address. Then admits he has obtained money from loan sharks. Rather than hang pig’s heads on doors, loan sharks have developed a 21st-century approach of…… Continue reading Loan sharks’ technique, embarassment debtors on social networks