Loan Scams Examples

Loan Scams In Singapore: The Ultimate Guide To Protecting Yourselves

Do such messages look familiar?  Did you know that from January to March 2020, a total of $1.6 million was lost to loan scams? Loan scams are listed in the top 3 scams of 2020, coming just behind E-Commerce and Social Media Impersonation Scams.  IMPORTANT NOTICE: There have been many unlicensed lenders / scam syndicates that have impersonated Lending Bee and preyed on unsuspecting victims. These are in the form of: Facebook advertisements/pages SMSes claiming to be from Lending Bee Paid Google advertisements about Lending Bee loans Repurposing Lending Bee’s website content onto their own bogus site   Sometimes, these unlicensed moneylenders / scam syndicates can be incredibly convincing in their acts. They’ve upgraded their technology and improved their skills. It is common to see them copying our website and content. Hence, it can be tough to discern between licensed and unlicensed moneylenders. To ensure that you do not get exploited by their underhand tactics, here are the steps that you should take: Call Lending Bee @ 6219-1611 to ascertain if you have been contacted by any of our staff Do not readily provide any personal information (NRIC, SingPass details, Bank account number, etc.) Q&A On Loan Scams In Singapore How Do I Protect Myself Against Loan Scams? If the loan is promoted via SMs, it is a scam. If the loan is promoted on Facebook, it is a scam.  In the event that you receive or come across such messages or advertisements, the best thing to do is to: Ignore the message and advertisements for loan services that you receive either though SMS, Whatsapp or other messaging platforms. DO NOT REPLY and engage with them. Block and report the number on the platform that you received the message. If you wish to report the number to prevent more victims from happening, you can report it to the police by calling ‘999’, or the X-Ah Long hotline at 1800-924-5664. If you require additional financial help from licensed moneylenders, do check out the Ministry of Law’s list of licensed moneylenders or apply for a loan with Lending Bee here. What Are Loan Scams?

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