UNLICENSED money lending /
loan sharking harassment

CITIZENS ON PATROL COMMUNITY SG


CRIME PREVENTION TIPS




"HOW I BECAME A LOAN SHARK RUNNER"
UNLICENSED MONEY LENDING
REAL CASE

unlicensed money lending / loan sharking

Unlicensed money lending or loan sharking is when an unlicensed person or an entity:
- Offers loans at extremely high interest rates (
well above an established legal rate), with strict terms of collection upon failure,
- Uses threats of violence to collect debts (also known as illegal money lending harassment), and
- O
perates out of the legal system that are often members of organised crime groups

how IT starts

- When a borrower has intentions or unintentionally borrow from unlicensed money lenders / loan sharks
- When a borrower is mislead to take up loan scam offers via unsolicited SMSes, or other social messaging / media platforms.  

what can happen

When a borrower ends up with difficulty or inability to pay off their loans, it can lead to the one or all of the following harassment:

- Culprits splashing paint and scrawl loan shark related graffiti on walls.
- Culprits spamming borrowers with SMSes, Whatsapp messages or phone calls to pay up ASAP.
Culprits leaving debtor's note with threatening messages at borrower's residence, letter boxes; or even at borrower's neighbouring residences.
- Culprits threatening to chain lock borrower's residence and committing arson.

HOW TO AVOID unlicensed money lending/ loan sharks

« Never borrow from illegal / unlicensed money lenders or loan sharks.

« Find and verify legitimate and licensed money lenders from the Ministry of Law's List of Licensed Money Lenders in Singapore HERE.

« If you receive any loan offers from unsolicited SMSes; ALWAYS ignore, report and block such messages. These are illegal money lenders. Be wary. Some illegal money lenders have been reported impersonating as licensed money lenders.

« If you come across any loan offer advertisements on any social media platforms or websites, ALWAYS ignore them. These are illegal money lenders.

« If you receive any unsolicited phone calls from unknown numbers/ parties offering you loans, immediately hang up the call. These are illegal money lenders.

« Ignore loan offer advertisement brochures / posters illegally posted up in your neighbour hood/ estate. These are illegal money lenders. Help take them down and discard them in the bins to protect members of the public from falling prey to such borrowings. 


« Never give out:
- Your NRIC-, passport- or work permit- details to anyone,
- Your bank account or Singpass details,
Your residential address details, 
- Your next of kin details, and 
Never accept any money from strangers regardless the amount.

LICENSED vs unlicensed money lendERS
THE DIFFERENCES

HOW TO spot a suspected LOAN SHARK harassment

When you observe suspicious characters:

« Loitering at lift lobbies, common corridors, staircases or carparks; particularly during lull hours,

« Carrying plastic bags/ backpacks with items like can spray paints, paint packs, markers, super glue or chains,

« Wearing clothes or hands stained with paint,

« Wearing jackets with hoodies or helmets to mask their identities,


« Constantly referring to hand phone, slips of paper or notebooks, and

« Looking nervous, speaking softly and always looking around. 


Call Police for assistance if you are a witness or if you are victim of such crimes.  Do it from a safe distance and/ or location.

Stay calm and observe the suspect's appearance, attire, height, or any distinctive physical features; as well as the suspect's location or the direction the suspect went.

leave evidences for police investigation

If you witnessed a suspected unlicensed money lending/ loan shark harassment that had taken place:

« Call for police assistance immediately.

« Prevent others from tampering with the items (e.g. debtor note)

« Avoid handling or removing the debtor notes from their original positions.

« Do not clear away the disposed items left behind by the runners. 




Read more on related topic >>
Loan Scams



Watch Crimewatch videos on >>
Unlicensed Money Lending/ Anti-Loansharking



Read Singapore Police News on >>
Unlicensed Money Lending/ Anti-Loansharking


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