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Difference between Licensed & Unlicensed Moneylender

How do you tell apart a licensed moneylender from an unlicensed one?

The first point to note is that a licensed moneylender will never send you an unsolicited message or contact you to offer you a loan.

If someone calls or texts or emails you offering a loan or offering to arrange for you a loan of any kind, you can be absolutely certain that it is an unlicensed moneylender – also known as a loan-shark or an Ah Long.

If you receive such offers, do not reply. Instead, notify the Singapore Police Force through i-Witness or call the X-Ah Long hotline at 1800-924-5664 to make an anonymous report.

If someone calls you claiming to be from a Licensed Moneylender, please do check the Licensed Moneylenders List under the Ministry of Law, and verify that the contact number actually belongs to the Licensed Moneylender.


Here are a few other clear pointers to go by:

  • A licensed moneylender is a registered, legally incorporated and identifiable private limited company.
  • An unlicensed moneylender is an individual (or a group of people acting with a common purpose) with no registered or confirmable identity.


  • A licensed moneylender operates openly from a fixed commercial address with known contact information.
  • An unlicensed moneylender operates from the shadows using constantly changing contact information and without a reliable business address.


  • A licensed moneylender is lawfully authorized to carry on the business of lending money to both individuals and businesses.
  • An unlicensed moneylender’s operations are deemed to be illegal, criminal activity and are prosecutable and punishable offences.


  • A licensed moneylender will require you to present yourself at the place of business. The lender is required by law to verify who you are, whether you are eligible to borrow money and whether you qualify for the loan amount you want.
  • An unlicensed moneylender conducts all transactions anonymously and remotely so that you remain unaware of who they are, where they are and how they operate.


  • A licensed moneylender will tell you clearly the terms and conditions of the loan, including the interest rate and how much you will need to repay and when your repayments will be due. The details will be set out in a clearly worded contract, a copy of which will be provided to you.
  • An unlicensed moneylender will have no documentation or legally agreed terms and conditions but will use spurious claims and ambiguous promises to lure you into an illegal transaction.


  • A licensed moneylender advertises only on its own website, within its place of business or in general consumer or business directories.
  • An unlicensed moneylender will use flyers, notes, calls, text messages, emails and even marketing agents to persuade you to take a loan.


  • A licensed moneylender will never call, text or email you to ask for your personal information such as your NRIC, work and home addresses or your bank details.
  • An unlicensed moneylender will call you and ask for your personal data, which might be misused later for criminal activity or to assist the commission of other crimes.


  • A licensed moneylender is limited by law to charging a monthly interest rate not exceeding 4% and is also required to let you know about any fees or charges tied to the loan.
  • An unlicensed moneylender’s interest rates and charges are limited only by greed and your willingness to be a victim. Threats, harassment and intimidation are the tools they rely on to extort unconscionable amounts from you once you fall for the promises of easy money.


A licensed moneylender is listed by Singapore’s Ministry of Law.The Moneylenders List (maintained on the ministry’s website) provides the names, business addresses, licence numbers, office telephone numbers and website addresses of all the moneylenders who currently hold a valid moneylender’s license.

Aero Credit is a moneylender licensed by Singapore’s Registrar of Moneylenders. We are one of Singapore’s most reputable and capable moneylenders. We are staffed and managed by experienced professionals who insist on providing the highest possible levels of courtesy, flexibility, confidentiality and service.

Aero Credit is conveniently and discreetly located within City Plaza near Paya Lebar MRT.

Contact us today about to find out more about our loan packages and how we can help. Alternatively, you may click the right bottom “Whatsapp” icon and chat with us.


List of Licensed Moneylender, Click here.