6. How can I tell whether an advertisement is from a licensed moneylender or an unlicensed moneylender?

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6. How can I tell whether an advertisement is from a licensed moneylender or an unlicensed moneylender?

Licensed moneylenders are permitted to advertise only through these three channels:

 

(a) business or consumer directories (in print or online media);

 

(b) websites belonging to the moneylender; and

 

(c) advertisements placed within or on the exterior of the moneylender’s business premises. All other channels are prohibited.

 

If you receive flyers, SMSes, emails or other forms of advertisements which are not permitted, these would either be from licensed moneylenders operating in breach of the advertising restrictions, or from unlicensed moneylenders. Hence, you are advised not to respond to such advertisements. Instead, you should report the advertisements by providing us with a proof of the advertisements (for SMS – a screen capture) to the Registry at e-mail address: This email address is being protected from spambots. You need JavaScript enabled to view it. or to the Police.

 

https://www.mlaw.gov.sg/content/rom/en/information-for-borrowers/guide-to-borrowing-from-licensed-moneylenders-english.html

 

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