Understanding And Addressing Illegal Money Lending In Singapore

Reasons for Illegal Money LendingIllegal money lending is as old as the history of money itself. Thinkers such as Plato, Aristotle, Thomas Aquinas, Karl Marx, Adam Smith and others consider it a grave vice in the society. It is considered as major vice due to the unjust interests associated with it. Illegal money lending is thus understood as a financial contract in which one person give somebody else a loan of a specified sum of money for a…