Residents concerned over ads promoting illegal moneylender at Woodlands block

Residents at a Woodlands HDB block are concerned after finding over 40 notices advertising moneylending services plastered around the void deck.

Residents alerted Lianhe Wanbao on Friday (March 23) to the incident, noting that the notices were plastered all over the void deck of Block 303 Woodlands Street 31. 

The notices were stuck on walls, mailboxes, pillars and even chairs. 

The resident was also puzzled why the notices did not extend to the other blocks nearby.

Reporters visited the scene on Saturday (March 24) and found that notices were posted on with a strong adhesive, making them difficult to take down. 

An owner of a shop nearby, who declined to be named, said that she only started to notice the advertisements in the past few days, and believes that the moneylenders had placed them up in the middle of the night.

She said: "Even if I don’t have money, I won’t borrow from them. Their interest rates must be sky-high. This sort of advertising methods will only harm more young people."

The owner of a medical shop nearby, Mr Xu, 36, said that he would take a loan from a bank if he needed money, but was afraid that the younger generation would fall prey to illegal moneylenders. 

Reporters later made a check against the list of approved moneylenders and found that the ‘Cash Solution’ advertised, was not one of the business named. 

In other words, the business is illegal.