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 to the public. This also includes current or previous clients of the moneylender.
- Advertising channels, for example, sponsored links through web search tools or any paid links from search engine.
- Directories online which are only for postings and promoting of moneylenders.
In conclusion, the Ministry Of Law has set strict standards on what a licensed money lender can and cannot do for advertising. These laws are set up for good reasons and that is to ensure that the public is protected.
DO NOT borrow from loan sharks as it can spiral out of control. If you need cash, approach a bank or licensed moneylender. Furthermore, you can look through our moneylender reviews and money lender review on money lenders in Singapore and find one that you think may be suitable for your needs.
Moneylender Review of Singapore is offering customer reviews of legal money lenders in Singapore. All providers listed here are licensed under Singapore Moneylenders Act, complying with regulations set forth by Registry of Moneylenders. By combining the reviews of all moneylenders in one place, it is easier for you to choose the best loan option.
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