Question:
Mr Gan Thiam Poh: To ask the Minister for Home Affairs whether there are Government regulations that require telcos, social media platform, and app service providers to restrict and disallow the use of their platforms by unlicensed money lenders including that for advertisements.
Answer:
Mr K Shanmugam, Minister for Home Affairs and Minister for Law:
1. The Criminal Procedure Code allows the Police to order telcos
to terminate phone lines used for unlicensed moneylending and other crimes. Under the
Online Criminal Harms Act, the Government can direct online services to stop accounts
or content perpetrating crimes, including unlicensed moneylending, from interacting with
or reaching Singapore end users.
2. Between January 2023 and May 2024, the Police flagged more than 4,500 phone
numbers and more than 5,300 online accounts and advertisements involved in unlicensed
moneylending activities for termination. The Police also work with online platforms on
upstream measures against unlicensed moneylending activities, such as pre-emptively
detecting and blocking accounts involved in such.
