92 captured in three-day anti-loansharking blitz

SINGAPORE– An overall of 66 men and 26 ladies, aged between 17 and 77, were apprehended for their presumed involvement in loansharking activities after a three-day island-wide operation. In a statement on Thursday (July 27), the Police stated officers from the Criminal Investigation Department (CID) and 6 Police land divisions had actually carried out simultaneous……

Do not succumb to deceptive personal loans advertisements

The authorities know that unlicensed moneylending (UML) syndicates have actually turned to masquerading as licensed lenders (LMLs) to avert detection and increase their client base. Better known as loan sharks, these distributes have actually unlawfully used websites, printed leaflets and online media to promote as signed up companies. A joint statement from the Singapore Police……

Victims duped online and through WhatsApp

She needed money to foot the bill, and took a loan from a guy who claimed to be a certified moneylender. However when Mandy (not her real name) could not make the first payment a week later and the $250 loan skyrocketed to $400, she understood something was wrong. ” I asked him (before obtaining……

Loan sharks’ technique, embarassment debtors on social networks

Prohibited moneylenders buy ads online to look genuine and post photos of customers to humiliate them into paying up In the video, he declares his name, NRIC number, and home address. Then admits he has obtained money from loan sharks. Rather than hang pig’s heads on doors, loan sharks have developed a 21st-century approach of……

Singapore’s Money Lending Act For Money Lenders

The MLA was enacted in Singapore in 1936 as the Moneylenders Ordinance (Cap 193, 1936 Ed) and was designed upon the English Moneylenders Acts of 1900 (63 & 64 Vict, c 51) (UK) and 1927 (17 & 18 Geo. 5, c 21) (UK). In Litchfield v Dreyfus [1906] 1 KB 584, Farwell J observed that……

Safe Guard Your Rights When Borrowing From Legal Money Lenders In Singapore

Know Your Rights– Overview of getting personal loan from Licensed Moneylenders in Singapore What should you do before approaching a moneylender? Read The Money Lenders Act in Singapore! Please note that you are lawfully bound to meet any loan agreements you get in with a certified money lender. Always bear in mind to ensure you……

Top International Schools In Singapore

Did you just get posted to Singapore recently? One of the key concerns for any expats working overseas is looking for the right school for your child. Getting the right education is key to your child’s social, mental and emotional development. Option 1: Sending your child to the Singapore Education System (Singapore Public Schools). “Singapore……

UOL Group net profit surges but it warns of disconnect between land cost and selling prices

SINGAPORE – UOL Group’s 2nd quarter net revenue rose 59 per cent to $109.4 million, enhanced by greater acknowledgment of revenue from apartment job Principal Garden. Higher contributions from associated business and reasonable value gains on financial investment homes also lifted the bottom line, the company stated on Friday. Earnings climbed by 10 percent year-on-year……

MAS proposes raising insurance coverage on bank deposits to $75,000 from $50,000

SINGAPORE – The Monetary Authority of Singapore (MAS) asked on Friday (Aug 4) for public feedback on proposals to enhance the deposit insurance scheme. The insurance coverage plan now safeguards deposits of approximately $50,000 in banks and financing firms. Singapore dollar-denominated deposits, such as those kept in a cost savings, fixed deposit or bank account,……

July job creation better than expected in US

WASHINGTON – US companies worked with more workers than anticipated in July and raised their earnings, signs of labour market tightness that will likely clear the way for the Federal Reserve to announce next month a strategy to begin shrinking its enormous bond portfolio. The Labour Department yesterday stated non-farm payrolls increased by 209,000 last……