Effective 1st of November 2011, licensed moneylenders are only allowed to advertise on three channels:
- Business or consumer directories (either in print or online platforms)
- A website belonging to a licensed moneylender
- Advertisements within or on the exterior of the moneylender’s business office premises
Advertisements outside those channels are not permitted. This is also one of the main differences in how you can determine a licensed moneylender. In addition, if you are receiving a loan offer from SMS, social media, email, phone, flyers, or any other forms, you need to report them at 1800-924-5664 (1800-X-AH-LONG) or via this website form.
Learn also the differences between licensed moneylenders from illegal lenders here.