- Blk 133 Jurong Gateway Road #01-295 Singapore 600133
- info@sgpcredit.com.sg
- +6466 1157
Our Company does not own any Facebook Pages.
Scammers pose as licensed moneylenders and ask for a “GST fee” or “processing fee” before a loan that never arrives. Here’s how to spot one, check a lender, and get help, based on official Singapore Government guidance.
cases reported
Jan–Jun 2026 (456 a year earlier)
lost
Jan–Jun 2026 (S$3.3M a year earlier)
average loss per case
Jan–Jun 2026
cases reported in 2025
About S$7.0M lost
Looking for ScamAlert’s loan scam page? ScamAlert.sg now redirects to the Government’s ScamShield website. See ScamShield’s Loan Scams guide
How loan scams work, and the red flags
A fast-cash loan ad or short video on social media such as TikTok or Facebook, a result from your own internet search, or an unsolicited SMS or WhatsApp message.
A “GST fee” or “processing fee” by bank transfer, ATM cash deposit, PayNow or cash, before the loan is released.
Victims only realise it was a scam when the money isn’t disbursed. Some scammers also copy real lenders’ websites using look-alike web addresses.
By call, SMS, WhatsApp, Telegram or social media.
“GST”, admin, processing or any other upfront fee.
Approved online or by phone, with no face-to-face ID check.
Or its website or address doesn’t match the list.
Or wants to keep your NRIC or ATM card.
Sent by someone you don’t know.
| Licensed moneylender | Loan scammer | |
|---|---|---|
| How they reach you |
Only via business or consumer directories, its own website, and at its business premises |
Unsolicited messages, or ads and videos on social media |
| Where the loan is approved |
Only at its approved place of business, after checking your ID face to face |
Online or over the phone |
| Money before the loan |
Never. A loan approval fee of up to 10% may be deducted when the loan is granted |
“GST” or “processing” fees paid upfront |
| Can you verify them? |
Yes, on MinLaw’s List of Licensed Moneylenders |
Uses a real lender’s name or a look-alike website |
Make sure a moneylender is real
Find it on MinLaw’s list
Look it up on the List of Licensed Moneylenders. Not there? Don’t borrow.
Match the website and address
Before visiting a lender’s website, check its web and physical address against the list only.
Expect to meet in person
Licensed lenders must verify your ID face to face at their approved premises. Fully online loans aren’t allowed.
Name SGP Credit Singapore Pte. Ltd. Licence 10/2026 Address 133 Jurong Gateway Road, #01-295, Singapore 600133 Phone 6466 1157 Website www.sgpcredit.com.sg
Already paid, or not sure? Act fast
Or activate your bank’s Kill Switch to freeze your accounts. Bank hotlines
Online or at a Neighbourhood Police Centre. Include the scammer’s number and screenshots.
Change passwords, turn on two-factor authentication and warn your contacts.
To the platform that contacted you, and in the ScamShield app.
Common questions
No. Licensed moneylenders are not allowed to make unsolicited calls or send unsolicited loan offers on platforms such as WhatsApp, Telegram, Facebook, TikTok or Instagram, or to advertise by SMS. ScamShield’s advice is that any unsolicited loan offer is a scam.
No. A licensed moneylender must meet you in person at its approved place of business to verify your identity before granting any loan. A loan transaction done fully online is not allowed.
All of these together cannot exceed the amount borrowed (court-ordered legal costs are separate). Unsecured loans other than business loans, disbursed on or after 15 September 2026, also have a three-business-day cooling-off period.
ScamAlert.sg now redirects to the Government’s ScamShield website, and the old loan scam page is no longer available. ScamShield’s current guidance is on its Loan Scams page.