The Ministry of Law records and maintains the list of every licensed private moneylender in Singapore. The ministry updates the list regularly, adding new members immediately in order to avoid confusion and if the list does not feature the name of the moneylenders, it is advisable to avoid taking a loan from them.

Borrowing loans from a licensed moneylender ensures safety and security as their operations are guided by the rules and regulations laid out by the Ministry of Law. They are forbidden to charge over and above the amount prescribed by the statutes and they follow the due process of law while collecting the payment.