The Singapore Government has recently implemented a new legislation which prohibits the marketing of Moneylenders via SMS.
The new rules related to these marketing exclusions have been included in the existing Moneylenders Act and it specifically states, in section 2.2 (h) of the directive the following:
Notwithstanding paragraph 2.1, the following advertising channels are not permitted:
Advertisements in the form of Short Message Service (SMS) messages and e-mails sent to the general public, patrons of the licensee or former patrons of the licensee.
All customers should abide by this new directive to not send any SMS that terminate to Singapore operators with this type of traffic profile. Failing to comply with the restriction may lead to financial penalties imposed by the Singapore Government.
This new regulation is being taken very seriously and from the information we have received, there are already a number of police investigations taking place for those who have chosen not to abide by this legislation.
For more regulatory information relating to Singapore, refer to the IMDA website:
https://www.imda.gov.sg/regulations-and-licensing/Regulations
If you require further information, please contact your Account Manager.
