Loan Scam

Loan Scam

As of December 2022



Have fallen prey to scammers



Total amount lost to scammers


If you receive phone calls, unsolicited text messages via SMS, messaging apps or come across advertisements on social media or online offering loans or loan services, you’ve encountered a loan scam. The scammers may claim to be staff from a licensed money lender to gain your trust. You are then instructed to transfer money before the loan can be disbursed. The scammers disappear once the money is transferred. They may also ask for personal information like NRIC and contact numbers, Singpass details and bank account numbers. The information is then used to harass or threaten you for more payments.

Look out for these scam signs

How to stay safe

Ignore any unsolicited loan ads. Licensed moneylenders are not permitted to advertise. Block and report the number or ad on the platform on which the advertisement appeared.
Seek financial help only from legitimate financial institutions registered with the Registry of Moneylenders at

Only contact the licensed moneylenders via the contact details found in the registry. Scammers may impersonate licensed moneylenders by using their names, licence numbers and creating fake websites.
Licensed moneylenders are required to meet the borrower at the approved place of business to conduct physical face-to-face ID verification before granting a loan. Approving and disbursing loans online is disallowed.

Loan Scam: Real Stories

13 Aug 2023 | Loan Scam

Do not respond to advertisements offering loans

I came across an advertisement on Facebook pages called "Very Fast Loan." Intrigued, I requested a loan of $7000. An officer named Daphne handled my request and offered me a 7000SGD loan with terms totaling…...

30 May 2023 | Loan Scam

Don't respond from Loan advertisements

At first, they said they needed to check if I could pay the loan. They transferred $1200 to my account, and I was required to pay $1700 to get my loan approved. After I transferred the $1700, they said…...

25 May 2023 | Loan Scam

Don't respond to advertisements offering loans!

Just to share with everyone with this text message from mark with whatsapp no 8580435? or Offering loans with value including monthly repayments...

GET SCAM-RELATED ADVICE: CALL 1800-722-6688 (Mon-Fri 9am-5pm, excl. PH)
CALL 1800-722-6688
(Mon-Fri 9am-5pm, excl. PH)

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