Moneylender Tips – Identifying Legal Moneylenders in Singapore

Moneylender Tips – Identifying Legal Moneylenders in Singapore

How do you tell a if a Moneylender in Singapore is a legal one? Here are some tell-tale signs:   No telemarketing or SMS According to the Ministry of Law rules and privacy acts, moneylenders should not advertise their services in the form of telemarketing or SMS marketing. The penalties for advertising these services are harsh. Moneylenders can easily lose their licenses if they are caught. However, many illegal money lending services use SMS and telemarketing to market their services to unsuspecting consumers. It is important to avoid these services.   No online bank transfers Moneylenders often claim that they are able […]

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