A man flooded the market with more than 66,000 illegally registered SIM cards. He is sentenced to four years’ jail on Thursday (Jul 21). Tan Kong Chieh, 42, pleaded guilty to 220 counts under the Computer Misuse and Cybersecurity Act. He used the stolen identities of foreign nationals to falsely register 66,445 SIM cards between January … Read more
His job involved disbursing money to low income families in need of financial help. But a Ministry of Social and Family Development (MSF) employee allegedly transferred the money to his own bank accounts. He then use the money to pay off his debts and lead a lavish lifestyle. In addition, he also repaid his debts, amounting to about $13,000, to several licensed moneylenders. Furthermore … Read more
The classic images of a pig’s head and O$P$ splattered in red on corridor walls sum up feelings about debt collectors. While legitimate debt collection agencies might not be using loanshark runners’ tactics, these actions can still border on harassment. If you’ve have trouble paying your bills then you may be the recipient of unwanted attention from a … Read more
A money lender was shot 16 times which led to his death in a gruesome incident in Kuala Lumpur on Wednesday afternoon (July 27). The man, a 43-year-old moneylender and father of three, was driving along the road alone when four men on two motorcycles approached his car. They came when the victim’s car was at … Read more
For people who do not know, there are strict advertising regulations for certain sectors that the government do not want Singaporeans to be exposed to a large extent. Moneylending is one of the sectors that the government is trying to contain. These moneylenders have very strict advertising laws to follow. Moneylenders Reviews Moneylenders cannot advertise through the following: Adverts through SMS/emails/cold calls sent … Read more
He is a security guard in Singapore who earns $1,600 a month. He is also a step-father to a pair of children, to whom half of his income goes to for monthly tuition fees. A cash flow problem was all it took for his debts to snowball, leading to him losing 11kg due to stress and … Read more
The police have arrested 27 people, aged between 24 and 66, for their suspected involvement in loansharking activities. During the three day operation, officers conducted raids at multiple locations in Singapore. During initial investigations the four suspects are believed to be runners. They have assisted the loansharks in their business by carrying out Automated Teller Machine (ATM) transfers, … Read more
A 14 month old child was send to the hospital due to smoke inhalation. Loan sharks allegedly set fire to his parents’ rental flat just two weeks after moving in. They went to bed at about 1am that night, when there was no sign of anything unusual. The main door however is set on fire forty five minutes later. … Read more
Online adverts and social media lure these youths in by promising fast and easy cash. Youngsters who apply for these employments soon discover that they need to carry out loansharking activities, including badgering of borrowers. A significant number of them, pulled in by the pain free income on offer, still join. Many of them get caught for overstepping … Read more
A former M1 customer service officer was sentenced to 17 months’ jail, three strokes of the cane and a $90,000 fine on Thursday (Feb 18). Tay Kunhong, 33, was also ordered to pay a penalty of $5,400 for accepting bribes from a loan shark in exchange for obtaining M1 customers’ particulars. He also gave … Read more