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The Moneylenders Act in Singapore controls the operations of moneylenders inside the country. It's aimed to safeguard borrowers from abusive lending schemes. The Act establishes boundaries on interest rates, fees, and other clauses that moneylenders can demand on borrowers. It also provides remedies to borrowers who encounter difficulties with their moneylender.

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Before selecting a moneylender, it's important to research their reputation and confirm they are properly licensed. Look for glowing reviews from satisfied individuals.

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