Licensed moneylenders are financial companies that the Registry of Moneylenders has approved to lend money legally in Singapore. 

Step 1: Check where you saw the advertisement

Licensed moneylenders can only advertise in 3 places:

• Business directories (like Yellow Pages or online directories)

• Their own websites

• Inside or outside their shop (physical premises only) 

If you saw the ad anywhere else, it's illegal. 

Step 2: Look for these warning signs

These are always from illegal sources:

• Flyers in your mailbox or on the street

• SMS messages to your phone

• Emails you didn't request

• Social media posts (Facebook, Instagram, etc.)

• Newspaper classified ads

• Posters on walls or lamp posts 

Step 3: Verify the moneylender is licensed

Even if the ad appears in allowed places, check if the company is actually licensed:

1. Visit the official list at [BLANK - insert official registry URL]

2. Search for the company name exactly as shown in the ad

3. Check the address matches what's listed in the registry 

What to do if you find illegal ads

Don't respond to the advertisement. Instead:

1. Report it immediately by calling the Registry at 1800-2255-529*

2. Or report online at Contact Us @ OneMinLaw

3. Keep the advertisement as evidence if possible

*When calling the MinLaw Enquiry Line using the 1800-2255-529, please note that airtime charges may apply to calls made from mobile phones

What happens after you report

• Licensed moneylending companies breaking rules: The Registry of Moneylenders will investigate and may suspend their license

• Unlicensed moneylenders: Police will investigate as this is illegal money lending

Why these matters

Unlicensed moneylenders (also called loan sharks) often:

• Charge extremely high interest rates

• Use harassment or threats to collect money

• May be involved in other illegal activities

Remember: If an advertisement reaches you through illegal channels, don't trust the lender.

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Under the Registrar’s Directions On Advertising & Marketing Activities Of Licensed Moneylenders, which took effect on 1 November 2011, licensed moneylenders are permitted to advertise only through these three channels: (a) business or consumer directories (in print or online media); (b) websites belonging to the moneylender; and (c) advertisements placed within or on the exterior of the moneylender’s business premises. All other channels are prohibited.

In this regard, the advertising rules can help you differentiate between licensed and unlicensed moneylenders. If you receive flyers, SMSes, emails or other forms of advertisements which are not permitted under the rules, these would be from either licensed moneylenders operating in violation of the rules, or unlicensed moneylenders. Hence, you are advised not to respond to such advertisements. Instead, you should report the advertisements to the Registry at 1800-2255-529* or via Contact Us @ OneMinLaw. Errant licensed moneylenders will be investigated by the Registry and unlicensed moneylenders will be investigated by the Police.

*When calling the MinLaw Enquiry Line using the 1800 2255 529, please note that airtime charges may apply to calls made from mobile phones