Key Takeaways
- Report licensed and unlicensed moneylenders differently. Complaints against licensed moneylenders should go to the Registry of Moneylenders, while suspected unlicensed moneylending should be reported to the police.
- Gather strong evidence before filing a complaint. Keep your loan contract, payment records, receipts, messages, screenshots, and other supporting documents to strengthen your case.
- Know your rights as a borrower. Licensed moneylenders must follow legal limits on interest rates, fees, and debt collection practices. Also, they cannot harass or intimidate borrowers.
- Take immediate action if you face harassment or scams. Report threats, intimidation, or suspected loan scams to the police, especially if your safety is at risk.
- Protect yourself before borrowing. Always verify the lender through the Registry of Moneylenders, read the loan agreement carefully, and avoid lenders who advertise or promote loans through unsolicited messages.
Dealing with unfair treatment from a moneylender can feel overwhelming and distressing altogether. Whether you’re facing unreasonable fees, aggressive debt collection, harassment, or even a suspected loan scam, it’s important to know that you don’t have to handle the situation alone.
In Singapore, there are official channels for lodging a complaint against a moneylender, but the correct process depends on whether the lender is licensed or operating illegally.
Understanding the difference helps ensure your complaint reaches the appropriate authority. If you or your family are in immediate danger, contact the police without delay before taking any other action.
Read on to learn when and how to lodge complaints against moneylenders effectively—without any undue stress.
When Should You Make a Complaint Against a Moneylender?
You should consider filing a complaint if you believe a lender has breached Singapore’s moneylending regulations or engaged in unlawful conduct.
Common situations that warrant complaints against moneylenders include:
- Charging illegal fees, such as:
- Administrative fees exceeding 10% of the loan principal
- Late fees exceeding S$60 per month
- Interest or late interest exceeding 4% per month
- Requesting an upfront “processing fee”, “admin fee”, or “GST” payment before loan disbursement (a common loan scam warning sign).
- Failing to explain the loan contract or not providing an explanation in a language you understand.
- Refusing to provide receipts, repayment records, or a copy of your signed loan agreement.
- Harassing or intimidating borrowers through threats, abusive language, or repeated aggressive contact.
- Revealing your debt to your employer, family members, neighbours, or on social media.
- Suspecting that the lender is pretending to be licensed or operating without a valid licence.
- Receiving unsolicited loan advertisements through WhatsApp, Telegram, SMS, or social media.
If any of these situations apply, it’s worth lodging a complaint so the appropriate authorities can investigate the matter.
How to Lodge a Complaint Against a Licensed Moneylender
Step 1 — Gather Evidence Before Making a Moneylender Report
Before submitting your moneylender report, collect as much supporting evidence as possible. Well-organised documents help the authorities understand what happened and investigate more efficiently.
Useful evidence includes:
- Loan agreement or contract
- Repayment schedule
- Receipts and proof of payment
- Bank statements or PayNow transaction records
- Screenshots of WhatsApp, SMS, email, or social media conversations
- Call logs
- Photos or videos of harassment, vandalism, or property damage
- Names, dates, times, and locations of incidents
- The lender’s business name, licence number, address, and contact details
Step 2 — Contact the Registry of Moneylenders
If your complaint involves a licensed moneylender, submit it to the Registry of Moneylenders, which oversees the regulation of licensed moneylenders in Singapore.
Examples of matters the Registry may investigate include:
- Unfair lending practices
- Contract disputes
- Suspected breaches of the Moneylenders Act
- Improper debt collection practices
You can lodge a complaint against your licensed moneylender through:
- The Ministry of Law’s e-Services portal
- Registry of Moneylenders Hotline: 1800-2255-529 (standard mobile charges may apply)
After receiving your moneylender report, the Registry may request additional documents or arrange an interview to glean more information from you. Providing complete evidence from the outset can help speed up the investigation process.
Step 3 — Make a Police Report if There Is Harassment or Danger
If the lender threatens, intimidates, stalks you, vandalises your property, or makes you fear for your personal safety (or sanity), report the incident(s) to the Singapore Police Force immediately.
Examples include:
- Threats or intimidation
- Stalking
- Harassment
- Property damage or vandalism
- Violence or fear for your personal safety
You can report such incidents through:
- Police hotline: 999
- Police i-Witness portal
- ScamShield Helpline: 1799 (for scam-related cases where applicable)
In case you didn’t already know, serious harassment may also constitute an offence under the Protection from Harassment Act (POHA)!
What Counts As Licensed Moneylender Harassment?
Licensed moneylenders are allowed to recover outstanding debts, but they and any appointed debt collectors must comply with the Debt Collection Act 2022 and POHA. As a matter of fact, they cannot threaten, shame, intimidate, or harass borrowers.
| Examples of Harassment | What Licensed Moneylenders Can Do Legally |
|---|---|
| ⚠️ Threatening messages or phone calls
⚠️ Abusive or insulting language ⚠️ Excessive or aggressive visits ⚠️ Harassing family members, neighbours, colleagues, or employers ⚠️ Publicly revealing a borrower’s debt ⚠️ Vandalism or property damage ⚠️ Intimidation by third-party debt collectors |
✅ Send repayment reminders
✅ Visit the borrower’s registered address or workplace peacefully to request repayment or serve a Letter of Demand during permitted hours (Mon–Fri: 8am–10pm; Weekends/Public Holidays: 9am–9pm, unless agreed otherwise) ✅ Issue formal notices or Letters of Demand ✅ Commence legal proceedings to recover unpaid debts (usually as a last resort) |
If you experience any of the behaviour listed in the left column of the above table, consider filing a complaint against your licensed moneylender and, where appropriate, a police report.
Related read: Facing Licensed Moneylender Harassment? Here’s Where to Get Help Fast
What Happens After You Submit a Moneylender Report?
Once you’ve submitted your moneylender report involving a complaint against your licensed moneylender, the authorities will review the information and determine whether further investigation and action are required.
If regulatory breaches are established, the licensed moneylender may face:
- Financial penalties
- Licence suspension or revocation
- Prosecution and, in serious cases, imprisonment
Important:
Not every complaint results in enforcement action. The Registry will assess the available evidence before determining whether any regulatory breaches have occurred. If your loan agreement is legally enforceable, you must continue making repayments while the complaint is being reviewed.
Related read: Unable to Pay a Moneylender in Singapore? Here’s What to Do
How to Report an Unlicensed Moneylender
If you suspect you’ve been dealing with an unlicensed moneylender, report the matter directly to the Singapore Police Force.
The Registry of Moneylenders only investigates complaints involving licensed moneylenders and does not have authority over illegal lenders.
If you suspect illegal moneylending:
- Keep all available evidence, including messages, screenshots, phone numbers, bank transfer records, and payment requests.
- If the scammer is impersonating a licensed lender, notify the genuine company.
- Stop communicating with the suspected lender.
- Do not make further payments if you believe you’ve fallen victim to a loan scam.
- Submit a police report as soon as possible.
Acting quickly may help prevent further losses and expedite investigations.
How to Protect Yourself Before Borrowing From Any Moneylender
Taking a few precautions before applying for a loan can significantly reduce your risk.
Before borrowing, always prioritise the following actionable steps:
✔️ Verify the lender against the Registry of Moneylenders’ list.
✔️ Visit the lender’s approved business address before signing any agreement.
✔️ Ignore unsolicited loan advertisements sent via WhatsApp, Telegram, SMS, or social media.
✔️ Never share your Singpass credentials, online banking passwords, ATM card, or PIN.
✔️ Read the loan contract carefully and ask questions if anything is unclear.
✔️ Keep copies of all contracts, receipts, and repayment records.
✔️ Borrow only an amount you can comfortably afford to repay.
Conclusion
Borrowers should never ignore misconduct, harassment, or suspected illegal lending. If you’re dealing with a licensed moneylender, submit your complaint to the Registry of Moneylenders. If you suspect an unlicensed moneylender or experience criminal behaviour, report it to the police immediately.
Always verify a lender’s licence and fully comprehend and agree to all the loan terms before accepting a loan. If you’re looking for a safe and regulated borrowing option, speak with our expert team at Sumo Credit, a licensed moneylender in Singapore, to explore suitable loan solutions with confidence. We’re more than happy to be your supportive pillar in your loan journey!
