26 Jul 2011 Posted in Announcements
The Registry of Moneylenders issued a direction on 27 May 2011 to remind all licensed moneylenders that they are prohibited from requesting or collecting any borrower’s SingPass. (The SingPass serves to authenticate users of various Government online e-services.) Borrowers are reminded not to reveal their SingPass to any moneylender. If the moneylender says he needs the SingPass to obtain the Borrower’s Central Provident Fund statement of account, the Borrower may instead offer to provide the said statement so as to avoid disclosing his or her SingPass. Borrowers who encounter moneylenders insisting on their SingPass are advised to report the matter to the Registry of Moneylenders immediately.
Last updated on 25 Nov 2014