Loan shark help please..
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What is Unlicensed Moneylending?
Moneylending in Singapore
Under the Moneylenders Act 2010 (Revised Edition), Chapter 188, anyone who wishes to operate a moneylending business is required to apply for a Moneylender’s Licence from the Registrar of Moneylenders. Licensed Moneylenders are required by law to abide to the provisions under the Moneylenders Act and its Rules. For more information on Moneylending in Singapore and how one can apply for a Moneylender’s licence, the public can visit the Insolvency & Public Trustee’s Office (IPTO) website at the following link.
Verifying whether a moneylender is legal
To verify whether a moneylender is licensed, the public may access the IPTO website at the following link to check against an updated list of licensed moneylenders maintained by the Registry of Moneylenders.
What are loansharks?
Loansharks are unlicensed moneylenders, who illegally give out loans when not licensed to do so by the Registry of Moneylenders. Loansharks often lend money at unfair terms, such as at exorbitant rates of interest as high as 20% and 1018% per annum, frequently to people who are desperate for money and unable to get loans from legitimate sources.
Because they operate outside the law, loansharks resort to unscrupulous and often violent harassment acts to ensure repayment from their debtors. These include splashing paint on the front doors’ of debtors and innocent bystanders; scrawling graffiti detailing debtors’ personal details on walls; sending “Hell Notes” to frighten debtors; locking the front doors of debtors’ units; damaging cars belonging to debtors and innocent residents; and even setting fire to the front doors’ of debtors.
Loansharks are also known to outsource their illegal business by employing the vulnerable for their operations. These may include forcing debtors who are unable to repay their loans to conduct acts of harassment on other debtors; offering youths quick cash in return of committing acts of harassment; and offering money to people who open bank accounts to facilitate in their illegal money transfers.
What constitutes loansharking activities
Those who may dabble in loansharking activities of any nature are warned, as Police take a serious view on such offences.
Anyone who contributes or facilitates a loansharking operation will not escape the law. Persons carrying out any of the following acts are deemed to have participated in loansharking activities:
Carrying out acts of loanshark harassment (eg. splashing paint, scribbling on walls, setting fire; locking gates; sending hell notes);
debt collection;
providing funds or allowing premises to be used for loansharking business;
providing or selling prepaid SIM cards to loansharks;
opening bank accounts to facilitate fund transfers of loansharking syndicates;
promoting or advertising loansharking activities;
giving instructions to carry out harassment;
provide transport for runners; or
acting as a lookout or verifying harassment on behalf of the loansharks.
Punishments
Assisting loansharks:
First-time offenders – fine between $30,000 and $300,000, jail up to four years, liable to six strokes of the cane
Repeat offenders – fine between $50,000 and $500,000, jail up to five years, liable to 12 strokes of the cane
Conducting acts of harassment:
First-time offenders – fine between $5,000 and $50,000, jail up to five years, liable to six strokes of the cane
Repeat offenders – fine between $6,000 and $60,000, jail up to nine years, liable to 12 strokes of the cane
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TS missing liao la...
Got anything in the news recently?
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shark's food?
I have a bowl of shark fins soup.
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so atas... I can only drink soup thickened with starch + some jelly/mushroom
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Originally posted by Clivebenss:
shark's food?
I have a bowl of shark fins soup.
shark fins soup is only for u to rinse your mouth...
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.
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hi striveoutofdebt thanks alot for reply.
because the whole thing is base over the phone, so now cant do anything about it, but i have change everything, my singpass password and closed my account. made police report.
actually i have gotten an advise from this fren of mine, who have a hardcore ahlong exbf, so he told me to just tell the loanshark that already pay everything, if want come then come, gota be firm and they wont come, just cant let them know that we scared.
and the officer incharge already take note, and say if this sunday they sms contact, i can just call the police up.
and these 2 days no contact from the loanshark.will have to see sunday.
i will check out silver lining...thanks.
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FR leh?
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Loan shark got give you FREE PIG HEAD ?
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i epxerience beofre. i purposely borrow money from them then dont return. when they send their runners cum all get get beaten by me. unti unconsious. i tehn chop them up into pieces and send the body parts to the ah long head. i challene tehm to come again. until i chopp up all the ahlong news get aroound fast. i call to other ah longs they all dont dare to give me loan. for fear i will chipp them al up.
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Originally posted by neon15:
hi striveoutofdebt thanks alot for reply.
because the whole thing is base over the phone, so now cant do anything about it, but i have change everything, my singpass password and closed my account. made police report.
actually i have gotten an advise from this fren of mine, who have a hardcore ahlong exbf, so he told me to just tell the loanshark that already pay everything, if want come then come, gota be firm and they wont come, just cant let them know that we scared.
and the officer incharge already take note, and say if this sunday they sms contact, i can just call the police up.
and these 2 days no contact from the loanshark.will have to see sunday.
i will check out silver lining...thanks.
keena sai you should learn where are the ah long family and give their families some good rough up harrasesthe ah long family and then chop them allup! -
hi sunday is over, and nobody came and this sms loanshark i think abit childish type.
he called to ask me so which account i want to transfer him at dbs or posb, then i say, i already paid full and reported police. so he said he got my car plate number (sent in sms),and then said ok wait for me go ur place, and hung up.
shortly after he text.. to threaten again, i contacted my police officer incharge and apparently ltr on the ahlong, send a few text and say he hack into my email and stuff.. so i changed all my passwords. and the way he send texts still can type "haha" and have smileys.. i suppose he is those childish type and totally diff from those hardcore ah longs.
and then ltr in the night 2 am he called with block num to say.. "time to wake up, my guys are going over to ur house already" ,
do all the ah longs do this when they wan to send runner over?
but im still awake at that time, i muted my phone and he hung up.
really just wana prank me.
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write his lumber in the gay gym toilets
tt will keep him busy for a while. teehee
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Originally posted by FireIce:
write his lumber in the gay gym toilets
tt will keep him busy for a while. teehee
that's evil. lol
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é�“高一尺，é”高一丈
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gather your own gang of dark forces n pit it out with them, hang pig head and pour animals blood at their base?
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and u go to jail if he get caught?
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Originally posted by FireIce:
write his lumber in the gay gym toilets
tt will keep him busy for a while. teehee
actually quite true eh, but aiya..just hope that they will leave me alone. and stop the prank calls.
already paid him full & let him earn them interest back within few days instead of 1 mth installments . Some pple are just too greedy.
he also hacked into my email account, i was silly enough to use same password as my singpass before,and when i changed my singpass password, i nv change my email password.
google actually sent an automated email to me say got suspicious sign in and IP add is from china. so obvious the IP add is faked.
one word.unlucky. I urge you all to also change your passwords from time to time.
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not urge ppl not to borrow from loanshark?
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y u need to change password of singpass? can take or transfer $?
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singpass password and email password? no link leh. they hack your email or singpass?
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kanninar give his number here, limpeh free call and play with him day and nite. nowsaday i very free.
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Here is a full statement from the Singapore Police Force:
In the past month, Police have received multiple reports of intentional harassment involving SMS messages that were purportedly sent by loansharks.
In these cases, the victims would usually receive SMS messages from unknown mobile phone numbers threatening to harass their homes unlessthey pay up their loans. When the victims called back the phone numbers, they would be told by the culprit(s) that their "particulars" had been used to borrow money from loansharks with no specific details provided.
The culprit(s) would also demand payment from the victims and threaten to harass their families by locking, splashing paint or setting fire at their units if they did not pay up.
Although the victims in most cases had no dealings with loansharks, a few of these victims would transfer money to bank account numbers provided by the culprit(s) out of fear for their safety.
Members of public are advised to be aware of such scams and to adopt the following measures:
a) Do not reveal your personal particulars such as name, NRIC number, residential address and contact details to unknown individuals;
b) Keep your SingPass log-in details confidential and do not disclose it to anyone;
c) Do not give in to unknown and unsolicited demands for loan repayments;
d) Do not contact the sender of the SMS messages; and
e) Lodge a Police report via the Electronic Police Centre (ePC) at http://www.spf.gov.sg/epc/ or at any Neighbourhood Police Centre/Post if you receive any call or SMS of such nature, or dial '999' for urgent Police assistance.
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Who is responsible for your problems : http://goalzila.com/who-is-responsible-for-your-problems
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the loan-shark must be IT savy and is on sg forum and saw what he post and decide to get him, he must have been caught.