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1 Introduction
1.1 The Moneylenders Credit Bureau ("Bureau"), operated by Experian Credit Services Singapore Pte Ltd, has been established to collate and/or process information relating to borrowers of Moneylenders for the purpose of assessing their credit-worthiness. The Moneylenders supply credit information on their borrowers and in turn the Bureau provides credit reports to Moneylenders.
1.2 This Code of Conduct (“Code”) is intended :
  1. to address concerns relating to the protection of rights to information, privacy rights of persons and use of credit reports;
  2. to ensure transparency and accountability in the operations of the Bureau;
1.3 The Code is supplementary to and does not supplant any relevant legislation, in particular, the Moneylenders Act and the Personal Data Protection Act.

This Code applies to the following:

  1. the Bureau;
  2. all Moneylenders; and
  3. any person or entity who is properly authorised to have any access to information by the Bureau, a Moneylender or the Ministry of Law.
1.5 The Bureau expects the Moneylenders to comply with this Code.

Enquiries about the Code should be addressed to:

Experian Credit Services Singapore Pte Ltd
10 Kallang Avenue #14-18 Aperia Tower 2
Singapore 339510

Customer Service Hotline: (65) 6320 1900
Fax: (65) 6298 1502
Website: www.mlcb.com.sg
Email: mlcb@experian.com

2 Moneylender's Supply of Credit Information to Bureau
2.1 A Moneylender shall supply to the Bureau information and data relating to its borrowers and in the data formats specified in the Credit Information Specifications or in such other form as the Bureau may reasonably require subject always to the Moneylenders Act and applicable law.
2.2 A Moneylender shall ensure that its loan application system is integrated with the Bureau's systems in order to submit credit information to the Bureau on a real-time basis.
2.3 A Moneylender shall take all necessary steps to ensure that the credit information supplied by it (including all updates) is up-to-date, accurate and complete.
3 Information held by Bureau
3.1 Once collected, the Bureau holds information in a secure Singapore data centre. The Bureau data is only accessible by authorised Experian employees who are specially trained in security and data handling policies and protocols to Experian's business standards and the credit reporting obligations under the Moneylenders Act.
3.2 Experian and its affiliated entities recognise and acknowledge the importance of keeping the information and data that it holds secure and protected from unauthorised access. To do this, industry-standard security and encryption processes and technology are utilised to ensure that access to information is only provided to those employees who need to have access in order to perform their role. Access is also provided to users and subscribers of the products and services offered by the Bureau and any law enforcement agency with whom the Bureau is required by law to provide the information.
3.3 The Bureau will organise workshops in relation to the Code and good security practices, for authorised representatives of Moneylenders;
3.4 The Bureau shall ensure that Data is displayed for the relevant periods as indicated in the specimen credit report set out in online sample of credit report
4 Information Obtained from Bureau by Moneylenders
4.1 A Moneylender shall request a credit report from the Bureau only for those purposes which are permissible under the Moneylenders Act.
4.2 A Moneylender shall provide the necessary evidence (including application forms for rejected applications), retained for a period not less than 5 years from the date of the relevant enquiry, to support the Bureau to conduct ad-hoc or periodic auditing to ensure that there are no unauthorised requests for credit reports.

A Moneylender shall take measures, including the following, to safeguard the security of information provided to it by the Bureau:

  1. establish controls and procedures to be applied when access is sought to credit reports to ensure that there are no unauthorised requests for credit reports;
  2. maintain audit trails and logs of all instances of access and amendments to the information supplied by it to the Bureau and/or provided to it by the Bureau;
  3. regular review of password and other controls over all personnel authorised to access the database of information provided to it by the Bureau so as to prevent unauthorised access to the same;
  4. regular review of patterns of usage of the applicable information systems, with a view to detecting and investigating any unusual or irregular patterns of access or use so as to deter unauthorised use of information;
  5. ensure attendance by relevant personnel at workshops organised by the Bureau relating to the Code and good security practice.
  6. develop operational guidelines and disciplinary procedures and penalties to be applied in relation to improper access and/or improper use of information by its personnel, authorised agents and/or persons authorised by the Moneylender; and
  7. develop operational guidelines to ensure adequate protection to minimise the risk of unauthorised entry into the database of information provided to it by the Bureau or interception of communications made to and from such database.
5 Access to Information

A person is entitled to request access to review the credit reporting information the Bureau holds in respect of him. To request access, the following should be provided to establish the person's identity:

  1. proof of identity;
  2. if the person has authorised a third-party to act on his behalf:
    1. the person's identification document;
    2. proof of identity of the third-party whom the person has authorised;
    3. a written statement signed by the person authorising the identified third-party to receive the information on his behalf
5.2 Requests for credit reports are generally fulfilled within 1 business day.
5.3 Experian will charge a fee for access to or to provide a copy of the person's credit reporting information from the Bureau. A credit report can be purchased online at the Bureau's website or in person at the Bureau's office.
6 Correction

If a person believes that the information held by the Bureau may not be up-to-date, accurate or complete, an application may be made to the Bureau for a correction of that information. To make a correction request, he should:

  1. apply for access to the person's credit reporting information to ascertain that information is not up-to-date, accurate or complete;
  2. note the specific information to be corrected and provide all reasonable details of why the information is believed to be not up-to-date, accurate or complete;
  3. attach all relevant materials which support the belief that the relevant information is not up-to-date, accurate or complete.
6.2 On receipt of this information, the Bureau will investigate and use all reasonable endeavours to resolve the issue within 10 business days from receipt of the correction request. The Bureau may require further information or details from the person to complete the investigation. Depending on the nature of the correction, the Bureau may require further information from or the assistance of another party such as a Moneylender to investigate or resolve the correction request.
6.3 The Bureau will endeavour to complete this process within 10 business days and after this time, will advise the person of the outcome. Where the investigation is complex the Bureau may seek agreement to allow more time for the investigation and resolution. Where following the Bureau's investigation it is determined that a correction is warranted, the Bureau will take all reasonable steps to correct its records.
7 Complaints

Should a person feel that the Bureau has breached its obligations, he should first raise the matter with the Bureau by sending a notice with the following:

  1. identity of the person;
  2. details (if known) of the obligation (code, law or contract) the Bureau may have breached;
  3. providing reasonable information about the breach and the circumstances of the breach.
7.2 On receipt of a notice, the matter will be referred to the Bureau's investigation team. The complainant may be required to provide additional information or documents to support his complaint. The Bureau will endeavour to investigate and provide the complainant with notice of the outcome of the Bureau's determination within 14 business days.
7.3 If the complainant is not satisfied with the outcome of the Bureau's investigation, the matter may be escalated to the Registry of Moneylenders using the details below:

Telephone number: 1800 2255 529
Contact Us @ OneMinLaw
8 Communication with Moneylenders
8.1 The Bureau shall establish and the Moneylenders shall participate in a Communication Meeting to be held not less than once every calendar year.
8.2 Moneylenders Association of Singapore shall be entitled to appoint up to 2 employees or representatives to attend the Communication Meeting. Each Moneylender that is not a member of the Moneylenders Association of Singapore shall be entitled to appoint 1 employee to attend the Communication Meeting.

The objectives of the Communication Meeting include:

  1. to give guidance on the development of the Bureau's services for Moneylenders;
  2. to consider changes to the Code of Conduct;
  3. to channel feedback to MinLaw on the information contributed by Moneylender to the Bureau;
8.4 Where applicable, the Bureau will seek a decision from the Ministry of Law on recommendations discussed at the Communication Meeting.
9 Miscellaneous
9.1 The Bureau shall on every business day maintain a help desk which shall be manned by personnel trained to respond to queries, receive feedback and process complaints.
9.2 Each Moneylender shall designate one or more person or persons to deal with queries, feedback or complaints and to facilitate the fair, simple, speedy and efficient resolution of complaints.
9.3 The Bureau will provide facilities for communication with and receive feedback from the public.
10 Useful Definitions

These definitions explain the meaning of words and terms used in the Code. They are not precise legal or technical definitions.


An entity which falls within the definition of a "moneylender in Singapore" as defined in the Moneylenders Act and which holds a valid license granted under the Moneylenders Act. This includes Suspended/Terminated Moneylenders who are still required to submit the borrower payment information to the Bureau;

Credit Information Specifications

A document jointly developed with Ministry of Law, Moneylenders and the Bureau which specifies the borrower and/or surety information and data which Moneylenders are required to provide to the Bureau.

Where appropriate, references to borrowers also include sureties.