Moneylenders Act 2008 · 2020 Revised Edition · Part 3A · Collection, Use and Disclosure of Borrower Information and Data
69. Duty to maintain confidentiality of borrower information
Feedback & supportLast amended by an amending law of 2023. 2 amendments in all.
A licensee and any of the licensee’s officers or employees must not request from the designated credit bureau any borrower information (including a credit report relating to a person) of the licensee or any other licensee, except for the purposes of section 66(5)(b) or 66A(4).
designated credit bureau
“designated credit bureau” means the person that is for the time being designated under section 56(1) as the designated credit bureau;
A licensee and any of the licensee’s officers or employees must not use any borrower information (including any such information in a credit report) of the licensee or any other licensee received from the designated credit bureau, except where —
borrower information
“borrower information”, in relation to a licensee, means —(a)any information relating to a person or a loan applied for or granted to that person, that is in the possession or under the control of the licensee;(b)any information relating to a person or a loan, that is obtained by the licensee under section 66;(c)the prescribed information mentioned in section 68(1)(a) relating to the repayment of a loan granted by the licensee, or any instalment of such repayment; or(d)the prescribed information mentioned in section 68(1)(b) relating to any writing off of any debt arising from a loan granted by the licensee,but excludes any information that is not referable to any named person or named group of persons;
the borrower information is strictly necessary to assess the creditworthiness of an applicant for a loan from the licensee; or
the borrower information is to be used by the licensee for determining the maximum amount that the licensee may lend to an applicant for a loan from the licensee.
A licensee and any of the licensee’s officers or employees must not disclose to any other person any borrower information of the licensee or any other licensee (including any such information in a credit report) except —
credit report
“credit report” means a report prepared by the designated credit bureau under section 74 using borrower information provided by at least one licensee for the purposes of —(a)enabling a licensee to assess the creditworthiness of a person, including —(i)information about the person’s history in relation to loans with one or more licensees;(ii)information about the person’s capacity to repay loans granted by one or more licensees to the person; and(iii)any other information relating to the person’s creditworthiness; and(b)enabling a licensee to comply with any restriction imposed under this Act as to the maximum amount that may be lent to a borrower or to a class or description of borrowers to which a borrower belongs;
to the designated credit bureau, to the extent that the borrower information is required to be submitted under section 66, 66A or 68;
to the person to which the borrower information relates;
to the Registrar or any officer duly authorised by the Registrar, to the extent that the borrower information is required to be furnished under section 43;
to the Registrar, to the extent that the borrower information is required to be submitted under section 72; or
to the licensee, where the disclosure of borrower information of the licensee is by any of the licensee’s officers or employees.
Despite subsection (3), a licensee may disclose —
any borrower information of the licensee (including any such information in a credit report) —
to an assistant of the licensee to enable the assistant to collect any debt on behalf of the licensee;
to a contractor or agent engaged by the licensee to enable the contractor or agent to maintain or support the licensee’s information system; or
to any public agency to enable any of the licensee’s officers or employees to inspect or obtain any public record relating to —
an applicant for a loan from the licensee; or (B)a borrower to whom a loan has been granted by the licensee; or
any specified borrower information of the licensee —
to any prescribed credit bureau for the purpose of obtaining any report from that prescribed credit bureau to assess the creditworthiness of any applicant for a loan or any borrower to whom a loan has been granted by the licensee; or
to any other person that may be prescribed for any purposes related to the welfare and protection of applicants for loans, borrowers and sureties.
Any person who contravenes subsection (1), (2) or (3) shall be guilty of an offence and shall be liable on conviction to a fine not exceeding $20,000 or to imprisonment for a term not exceeding 6 months or to both.
In this section, unless the context otherwise requires —
where borrower information of a licensee may be disclosed under subsection (3) to any person that is a body corporate, the borrower information may be disclosed to such officers of the body corporate as may be necessary for the purpose for which the disclosure is authorised under that subsection; and
the obligation of any officer or employee of the licensee not to disclose any borrower information of any licensee mentioned in subsection (3) continues after the termination or cessation of his or her appointment, employment, engagement or other capacity or office in which he or she has been provided the borrower information.[30Q
In this section —
“information system” means computer servers and network equipment operated, maintained or used by a licensee for the purposes of the licensee’s business of moneylending, and any other electronic device that contains borrower information of the licensee;
“prescribed credit bureau” means —
a credit bureau that is for the time being licensed under the Credit Bureau Act 2016; or
an organisation which provides information to a person to assess the creditworthiness of an individual in relation to one or more transactions between the person and the individual, where such information is —
provided for gain or profit; or
provided on a routine, non‑profit basis as an ancillary part of a business carried on for gain or profit,that may be prescribed as such;
“specified borrower information” means one or more types or classes of borrower information that the Registrar may, by written notice to one or more licensees, specify for the purposes of this Part.
Registrar
“Registrar” means the Registrar of Moneylenders appointed under section 4 and includes a Deputy Registrar of Moneylenders and an Assistant Registrar of Moneylenders appointed under that section;