Loan Scam

WHAT IS A Loan Scam?

SMSes or WhatsApp messages are sent offering loans and loan services to random users. The scammers may claim to be staff from a licensed moneylender. Interested parties are instructed to transfer money as a deposit before the loan can be disbursed. After making the transfer, victims find that the scammers are no longer contactable. As part of these scams, the scammers may ask for personal information like NRIC and contact numbers, Singpass details and bank account numbers. When handed over, the information is used to harass or threaten victims for payment.

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  • Ads that reach out to you through social media, SMS or messaging apps or even cold calls
  • Fake business websites might be created to convince you that they are legitimate
  • Instant, fuss-free loan approvals
  • Requests for fees

What you should look out for

  • Ads that reach out to you through social media, SMS or messaging apps or even cold calls
  • Fake business websites might be created to convince you that they are legitimate
  • Instant, fuss-free loan approvals
  • Requests for fees

What you should do

RELATED SCAM STORIES

Showing 6 of 144 Stories
Showing 6 of 30 Stories
20 Apr 2021

Beware of unlicensed moneylenders / loan scammers

My helper saw a loan ad on facebook and enquired thru messenger. The company asked for her bank acc no and work permit in order to find out more. My helper didn't agree on any loan amt but $200 was transferred…...

20 Apr 2021

I lost $86,000 to loan scam

I was contacted by Nxxxx Lee, a consultant from XX Credit Pte Ltd, after approaching them for a loan. As part of the loan, I had to provide my particulars and pay an initial processing fee. After making…...

19 Apr 2021

Beware of Loan scams!

Recently I texted someone on WhatsApp for a $5000 loan. They told that they were from "Golden licensed moneylender". I provided pictures of the front and back of my I/C, CPF, statement and bank account…...

16 Apr 2021

Beware of loan scammers!

Recently looking for a licensed moneylender to borrow $5K, while approving to get the loan they actually tell me to go through a short term before I can loan the amount of 5K because I am a first timer,…...

04 Apr 2021

I lost over $6k to loan scam

Incident took place after searching online and applying interest in getting a legit loan for investment. Contact personnel was via whatsapp and seemed legit but after transferring some "processing" fees,…...

28 Mar 2021

I lost $4,700 to loan scam

I got a message from this scammer that u need loan u can contact us. After that ,this moneylender saying they approved my loan of 10k, after I send my IC, bank & cpf statement. After that he say cause…...

Have you encountered a scam?

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