Moneylenders Act 2008 · 2020 Revised Edition · Part 2A · Freezing of Proceeds of Unlicensed Moneylending
22. Proceeds of unlicensed moneylending
Feedback & supportIn this Part, property is proceeds of unlicensed moneylending if it is wholly or partly derived or realised, whether directly or indirectly, from a contravention of section 5(1).
property
“property” means property of every kind, whether tangible or intangible, movable or immovable, and whether situated within or outside Singapore, and includes funds.[15A
Property becomes proceeds of unlicensed moneylending if —
it is wholly or partly derived or realised from a dealing with or disposal of proceeds of unlicensed moneylending; or
it is wholly or partly acquired using proceeds of unlicensed moneylending,including by virtue of a previous application of this subsection.
Property remains proceeds of unlicensed moneylending even if —
it is credited to an account; or
it is dealt with or disposed of.[15B