http://www.straitstimes.com/premium/forum-letters/story/debt-collectors-must-abide-law-20130917
Licensed moneylenders are required to seek the Registry of Moneylenders' prior approval for the employment or engagement of any person to assist in any aspect of their moneylending business, including the collection of debts.
The registry conducts checks to ensure that only fit and proper persons are allowed to assist in a moneylending business.
Licensed moneylenders may take reasonable steps to recover their debts as long as they do not infringe the law. Such steps include contacting the borrower to ask for repayment and taking legal action to enforce the loan contract.
There is no specific licensing requirement or legislation that regulates debt collectors in Singapore. Nonetheless, actions taken by them cannot contravene the general criminal law.
Borrowers who encounter unacceptable behaviour from licensed moneylenders or their debt collectors should report the matter to the police or the Registry of Moneylenders on 6325-1500 or e-mail ipto_enquiry@ipto.gov.sg
The public can lodge a police report through the Electronic Police Centre at www.spf.gov.sg/epc/ or at any neighbourhood police centre/post, or dial 999 if urgent assistance is required.
When a report is lodged, the police will assess and investigate if a crime has been committed. Moneylenders found to have committed offences may also have their licences suspended, not renewed or revoked by the registry.
Koh Su Ching (Ms)
Assistant Director (Corporate Communications and Quality Service Management)
Insolvency and Public Trustee's Office
Ho Yenn Dar (Superintendent)
Assistant Director, Public Communications
Public Affairs Department
Singapore Police Force
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