Recently, there have been a surge in loan scams all by unlicensed moneylenders or we term them as loan sharks.
They mode of operandi is such that starts with a phone call or an SMS trying to get the innocent to borrow some form of loan from them. Take note without any proper documentations just the NRIC is sufficient.
Then they claim that you are able to borrow up to a few K which end up is only a few hundred bucks transferred into your bank account as a “TRIAL LOAN”. Do note that in the world of lending there is no such term as a Trial Loan is either normally an approval or a rejection.
Subsequently, if the victim intends not to take the loan they would claim that the loan has already started and they need to pay interest upon it which is usually a 100% interest rate in a form of extortion.
For more details on scams like this please refer to CRIME LIBRARY SINGAPORE