Loan Scam Alert Singapore: How to Protect Yourself
The Singapore Police Force has issued an advisory warning the public about scammers impersonating government officials and instructing victims to obtain loans from licensed moneylenders. Since 1 June 2026, at least 5 cases have been reported with total losses of at least SGD 252,000.
Source: Singapore Police Force — Police Advisory on Government Officials Impersonation Scams that Involve Obtaining Loans from Licensed Moneylenders. Issued 25 June 2026. Read the full SPF advisory
How This Scam Works
Scammers follow a calculated three-stage process to manipulate victims into handing over loan proceeds.
The First Call
You receive an unsolicited call from someone claiming to be from a telecommunications company. They say you signed up for a service contract, registered a SIM card, or purchased a phone you don't recognise.
Transferred to "Officials"
Your call is transferred to a scammer impersonating a government official from MinLaw or MAS. They accuse you of criminal activity and pressure you to cooperate with their "investigation".
The Loan Trap
You are instructed to obtain a loan from a licensed moneylender and transfer the funds to a "safe account". The scammers disappear once they receive the money — leaving you in debt.
This scam variant is especially harmful.
Victims do not just lose money — they also end up in debt from the loan. Since 1 June 2026, at least 5 cases have been reported with combined losses of at least SGD 252,000. If you or someone you know has been targeted, report it immediately.
Singapore Government Officials Will NEVER Do This
Real officials from MinLaw, MAS, or the Police will never make these requests. If anyone does, it is a scam.
Ask you to transfer money
Government officials will never ask you to transfer or hand over cash, luxury watches, gold, or cryptocurrency.
Ask you to take a loan
No legitimate government official will ever instruct you to obtain a loan from a moneylender to assist with any "investigation".
Ask for banking details
Legitimate officials will never ask you to disclose your banking login credentials or passwords.
Ask you to install apps
They will never ask you to install mobile applications from unofficial app stores or unknown links.
Transfer your call to Police
A government official will never offer to transfer your call to the Police or to any other government authority to "verify" claims.
If in doubt — hang up immediately.
Call the 24/7 ScamShield Helpline at 1799 or call the Police at 999 to verify.
3 Things You Should Never Do
The Singapore Police Force reminds members of the public of these three critical rules.
Never transfer money to unknown persons
Never transfer or hand over money, valuables, or assets to any person whose identity you have not independently verified through official channels.
Never place money for physical collection
Never leave money or valuables at a physical location — such as an ATM, locker, or letterbox — to facilitate collection by a third party.
Never take a loan based on unsolicited advice
Never obtain a loan from a licensed moneylender based on instructions given by an unverified caller, regardless of what authority they claim to represent.
ADD. CHECK. TELL.
The Singapore Police Force recommends three precautionary steps every person should take.
ADD
Step 1
Add ScamShield
Download the ScamShield App to automatically block scam calls and SMSes. Set up transaction limits for your banking accounts.
CHECK
Step 2
Check for Scam Signs
Verify suspicious phone numbers, messages, and website links via the ScamShield app or website before responding to any communication.
TELL
Step 3
Tell the Authorities
Report any fraudulent transactions to your bank immediately. Tell family and friends about scams. Fighting scams is a community effort.
ScamShield Helpline
If you are in doubt, call the 24/7 ScamShield Helpline to check. Available any time, any day.
Verify MWA Capital is a Legitimate Licensed Moneylender
You can independently verify any licensed moneylender in Singapore through the Ministry of Law's Registry of Moneylenders. This is the only authoritative source — do not rely on claims made over the phone or via messaging apps.
- check_circle Licence Number: 117/2025 — verifiable on the MinLaw Registry
- check_circle We will never contact you unsolicited to offer loans via SMS, WhatsApp, or phone calls
- check_circle All loan transactions are conducted face-to-face at our registered premises — never via ATM or bank transfer to third parties
- check_circle If you are unsure whether a contact is from us, call us directly at 6557-2275
MWA Capital
Licensed Moneylender Singapore
- Licence Number 117/2025
- Issuing Authority Ministry of Law
- Operating Since 2010
- Contact 6557-2275
Think you've been targeted?
Call the Police at 999 or file a report online. Report the fraudulent transaction to your bank immediately.
Report online at ePolice open_in_newOfficial Resources
Use only official government sources to verify information and report scams.