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.




  • Advertisements on messaging platforms. It is illegal for licensed moneylenders to advertise via SMS or WhatsApp.

What to look out for

  • Advertisements on messaging platforms. It is illegal for licensed moneylenders to advertise via SMS or WhatsApp.

How to protect yourself


Showing 6 of 8 Stories
Showing 6 of 30 Stories
16 Mar 2019

I lost over $1k to loan scam

This man claim to be from cash mart which is a licensed moneylender. I let my guard down and provide my personal details as well as proof of EMPLOYMENT to him. He requested me to take up a short trial…...

15 Mar 2019

I was threatened to pay more to get my loan

Intended to loan amount from this company , fast cred?? pte . The person name in whatsapp is lucas/nick At 2 march 2019 Is wanted to loan cause urgent need money . So come to this company to Ask . This…...

22 Feb 2019

"Moneylender" asked for payment repeatedly

First i received a message In whatsapp offering a loan in the name of ray Lim and kelvin lim. (Pls see attachement). Because i need money that time, so I applied for The loan, submit my documents thru…...

21 Jan 2019

Scammer didn't release loan to me even after I paid over $3K in deposit

I wanted to get a loan to clear off some credit cards thinking that they are licensed money lender and the interest rates they offer are lower than the local banks. Initially he asked for a "payment review".…...

17 Jan 2019

I lost $2000 to Loan scam

Similar to one of the Scam alert person's story, I had money issue, msged a number where i received via text msg from as "licensed money lender" they called themselves as FAST CREDITS PTE LTD. The person…...

15 Jan 2019

I put down a deposit of over $3K for a loan I didn't get!

I needed a loan and responded to a so called legal moneylending service i received via Whatsapp. (A chinese guy who called himself william) I enquires about a $5000 loan with 12 months repayment. William…...

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