Singapore: recent publications

How to Identify Illegal Moneylenders in Singapore?

Illegal moneylenders are not licensed by the Ministry of Law in Singapore to provide credit services. An illegal money lender will charge very high-interest rates and resort to unethical collection practices. It is not hard to identify a fraudulent dealer in the money lending industry with vigilance.  

If you were wondering what illegal moneylenders in Singapore look like and how you can identify them, read on for more information about moneylenders who are prohibited to lend money as per the Money-lending Act (MLA).

What is a Licensed Moneylender?

Licensed moneylenders are exempted from the Act, which means they are allowed to provide credit services.

To be exempted under the Act, licensed moneylenders must:

Be an individual or a liking reputation Provident
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Singapore: Readers Choice

Illegal moneylenders are not licensed by the Ministry of Law in Singapore to provide credit services. An illegal money lender will charge very high-interest rates and resort to unethical collection practices. It is not hard to identify a fraudulent dealer in the money lending industry with vigilance.  
In Singapore, a flower is a universal way to express love and emotions. We often send flowers to friends or loved ones during special occasions such as birthdays, anniversaries, and weddings. It’s quite easy to accomplish that task since many florists in Singapore provide beautiful flowers for you to choose from.

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