Moneylenders have been a hot topic in over the last decade, with a growing number of fraudulent businesses illegally operating under the protection afforded by cross-border operations. This has given the moneylending industry a negative reputation it doesn’t entirely deserve. By way of example, more than 5% of the population in Singapore has used payday loans to borrow money. Regulated companies that operate according to established guidelines are far from the stereotype bad journalism would lead you to believe. Continue reading “The Truth About Moneylenders and Sensationalist Journalism”

A lot of people can easily relate to Ms. A’s story.  It started with a seemingly innocent purchase: she wanted an iPhone.  She had some money saved up but did not want to spend all of it on a smartphone. She had been a borrower before and did not have any problems paying off the debt. Continue reading “One Borrower’s Story: On the Road to Becoming Debt Free”

Koh Chee Tong, an ex-UOB bank officer, improperly shared customer data with an illegal moneylender known as “Ah King.” Apparently Koh was pressured by the loan shark to share UOB customer details over an unsettled $16,000 gambling debt he had previously incurred. Continue reading “Ex-bank officer sentenced to jail time for sharing customer data with shark”