Question:Ms Hany Soh: To ask the Minister for Home Affairs (a) whether any applications for a licence under the Debt Collection Act 2022 (DCA) have been rejected since the commencement of the DCA on 1 December 2023; and (b) if so, how many applications have been rejected and what are the reasons.
Answer:
Mr K Shanmugam, Minister for Home Affairs and Minister for Law:
1. As of 30 September 2024, Police have rejected six applications
for a licence to operate a debt collection business under the Debt Collection Act. Police
assessed that the applicants and key appointment holders do not fulfil the fit and proper
criteria, including because of criminal antecedents of unlicensed moneylending, and
voluntarily causing hurt to others.
