Jman888 Moderator March 31, 2016 Author Share March 31, 2016 I think PDPA does not apply to whatsapp, that's why they spam you through whatsapp now. but they still must get your number to spam you, same as sms. ↡ Advertisement Link to post Share on other sites More sharing options...
Nightkids 6th Gear March 31, 2016 Share March 31, 2016 Quote More moneylenders moving into heartland Just in Toa Payoh town centre, 16 credit firms have set up shop Published on Jan 06, 2014 By Melody Zaccheus And Janice Tai A cluster of credit firms has replaced apparel shops and hair salons in Toa Payoh Central. There were just two in the entire estate in 2009. -- ST PHOTO: DESMOND FOO LICENSED moneylenders are increasingly targeting heartland areas such as Toa Payoh, Ang Mo Kio and Tampines, raising concerns among some about the availability of easy credit. In Toa Payoh, for instance, 16 credit companies have set up shop in the town centre, replacing apparel shops and hair salons, among others. There was just two such licensed moneylenders in the entire estate in 2009. Five have set up in Tampines and nine in Ang Mo Kio since 2009, spreading out from areas like Chinatown and Beach Road which used to be their main focus. "Heartland areas have high human traffic," said Mr John Lim, 36, the manager of moneylending company Symbolic at Block 183, Toa Payoh Central. "Eighty per cent of our borrowers are living in HDB flats and are not based in places like Tanjong Pagar." Easy credit - with limits CREDIT firms in Toa Payoh operate behind frosted glass fronts covered with large banners to give customers privacy. The banners pledge easy credit in a jiffy and last Thursday, they were still serving customers past their 8pm closing time. Although moneylenders can legally offer unsecured loans of four times a borrower's monthly income - if they earn $30,000 to $120,000 a year - most offered conservative sums. When reporters cited a monthly pay of $3,000, five loan officers offered to lend half that sum, saying low- income earners are a bigger credit risk. But loans could be approved right away. Documents such as an identity card and SingPass log-in details are needed to retrieve income statements online. For borrowers earning under $30,000, the rate lenders can charge is legally capped at an effective interest rate of 13 per cent for secured loans and 20 per cent for unsecured loans. But borrowers need to be careful of other charges, cautioned Mr Lim Cheng Boon of Credit Counselling Singapore. "Debt can escalate in a short period due to late payment charges." For example, if a borrower opts for weekly repayment instalments and defaults on payment for one month, he will face four late payment charges. JANICE TAI & MELODY ZACCHEUS YAY !!!!!!!!!!!!!!!!! more moneylenders means more choices, and more chance of borrowing money...... YAY !!!!!!!!!!!!!!!!!!! Link to post Share on other sites More sharing options...
L23 6th Gear March 31, 2016 Share March 31, 2016 I think PDPA does not apply to whatsapp, that's why they spam you through whatsapp now. Even PDPA apply, the sg number can simply deny any wrongdoings and point the finger to the china number . Sg police won't possibly send a SWAT team into China to hunt them down anyway. It's a perfect method to bypass PDPA ! Link to post Share on other sites More sharing options...
Nzy Twincharged March 31, 2016 Share March 31, 2016 but they still must get your number to spam you, same as sms. But that will be the problem of the person who gave your number to them already. So they won't get into trouble for sending messages to you. Link to post Share on other sites More sharing options...
Raychay 5th Gear March 31, 2016 Share March 31, 2016 Some of these messages are from licensed moneylenders in contravention of advertising restriction. Report police but still receive message after a few months Link to post Share on other sites More sharing options...
Kb27 Supersonic March 31, 2016 Share March 31, 2016 (edited) But does PDPA apply to whatsapp? From what I know, PDPA only applies to calls, fax and SMS. Not sure will whatsapp be considered as SMS. PDPA is USELESS ! They say illegal moneylender is police case. They won't do anything but refer to police. Then the farking police just delete them away. This has been my experience. Don't waste your time reporting to police. They are NOT interested in you. Illegal moneylenders know this. So they continue to spam you. Edited March 31, 2016 by Kb27 Link to post Share on other sites More sharing options...
Ingenius Turbocharged March 31, 2016 Share March 31, 2016 (edited) These money lenders are blood suckered and no different from loan shark. A friend who works in a money lending company told me they charge as high as 50 percent interest rate per month. This is exorbitant and preying on the desperate. The worst is the authorities turn a blind eye to this. Talk about being a compassionate government. Edited March 31, 2016 by Ingenius Link to post Share on other sites More sharing options...
Mcf777 Turbocharged March 31, 2016 Share March 31, 2016 These money lenders are blood suckered and no different from loan shark. A friend who works in a money lending company told me they charge as high as 50 percent interest rate per month. This is exorbitant and preying on the desperate. The worst is the authorities turn a blind eye to this. Talk about being a compassionate government. 70% voted for it..... Blame the peasant Link to post Share on other sites More sharing options...
Atonchia Supersonic April 1, 2016 Share April 1, 2016 These money lenders are blood suckered and no different from loan shark. A friend who works in a money lending company told me they charge as high as 50 percent interest rate per month. This is exorbitant and preying on the desperate. The worst is the authorities turn a blind eye to this. Talk about being a compassionate government.Too crazy lah 50% per month. Probably the lender told the borrower,"I offer you a good deal lend you 10k, you only need to pay me 5k............ ...... .... . every month." Link to post Share on other sites More sharing options...
Ghostami 2nd Gear April 1, 2016 Share April 1, 2016 To be fair, the risk of these lenders are much higher compared to banks. Which is why they charge a higher interest. That being said, 50% is really crazy. Link to post Share on other sites More sharing options...
Watwheels Supersonic April 1, 2016 Share April 1, 2016 To be fair, the risk of these lenders are much higher compared to banks. Which is why they charge a higher interest. That being said, 50% is really crazy. Haha...if ppl are able to get loans from banks they do not have to turn to loansharks. Banks review the lenders' jobs and financial status. If they see that the lender cannot service the loan installment they won't waste time on them. So these lenders whatever % the loanshark charge them they can never repay them... period. Link to post Share on other sites More sharing options...
Ghostami 2nd Gear April 1, 2016 Share April 1, 2016 Haha...if ppl are able to get loans from banks they do not have to turn to loansharks. Banks review the lenders' jobs and financial status. If they see that the lender cannot service the loan installment they won't waste time on them. So these lenders whatever % the loanshark charge them they can never repay them... period. Well, thats why loan sharks charge such high interest isn't it? These people do not review their financial status when you borrow from them. Else why would people label them as legal loan sharks? Link to post Share on other sites More sharing options...
Hydrocarbon Turbocharged April 1, 2016 Share April 1, 2016 But there is a local line provided. It's kinda daring for them to do so isn't it? U all must take note wor, dun reply.. Cos some of them will leech onto u. Don't reply to the whatsapp or anything, just block and delete. It's annoying, yes, but by replying, they know it is an active number. Besides, the (your) number is probably in a large database and is just uploaded to a phone / server via a script and even the whatsapp message is sent via a script. As for PDPA, I don't think they can do much, as whatsapp / line / other messaging apps are considered OTT, and not part of the SMS / Call / Fax ban. The legal structure will always take a long time to catch up with technological innovation, especially in Singapore. So, just ignore those for now ba.. Nothing much else to be done. And, fark loansharks. Legalised or not. 2 Link to post Share on other sites More sharing options...
Nzy Twincharged April 1, 2016 Share April 1, 2016 Don't reply to the whatsapp or anything, just block and delete. It's annoying, yes, but by replying, they know it is an active number. Besides, the (your) number is probably in a large database and is just uploaded to a phone / server via a script and even the whatsapp message is sent via a script. As for PDPA, I don't think they can do much, as whatsapp / line / other messaging apps are considered OTT, and not part of the SMS / Call / Fax ban. The legal structure will always take a long time to catch up with technological innovation, especially in Singapore. So, just ignore those for now ba.. Nothing much else to be done. And, fark loansharks. Legalised or not. Whatsapp also has the option to block the sender and mark it as spam if it is from someone not on your contact list. Do that. If enough people mark that sender as spam, I think whatsapp will not let them send messages to numbers not in their contact list. 1 Link to post Share on other sites More sharing options...
13177 Supersonic April 1, 2016 Share April 1, 2016 but they still must get your number to spam you, same as sms. Then how they manage to get my number? Link to post Share on other sites More sharing options...
Jman888 Moderator April 1, 2016 Author Share April 1, 2016 Whatsapp also has the option to block the sender and mark it as spam if it is from someone not on your contact list. Do that. If enough people mark that sender as spam, I think whatsapp will not let them send messages to numbers not in their contact list. i suspect those china number are prepaid card that they can get hundreds of them to use it here, and whatsapp dun eat into the value of the card which these people can even sell it to their 同乡 Link to post Share on other sites More sharing options...
Jman888 Moderator April 1, 2016 Author Share April 1, 2016 Then how they manage to get my number? some where some how when you are not watching Link to post Share on other sites More sharing options...
Mockngbrd Supersonic April 1, 2016 Share April 1, 2016 (edited) Then how they manage to get my number? some survey, some lucky draw, some showflat, some insuran/house agent, some not so secure company with your details, once it gets on a database of numbers/contact details, ppl can buy these lists easily. I think there was some big hoo haa last time also, some bank let go details of their customers to insurance co, etc etc, then the list just gets passed on like the above examples. Edited April 1, 2016 by Mockngbrd ↡ Advertisement 1 Link to post Share on other sites More sharing options...
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