Google AdWords is in the way of adhering to the Singapore Law on restricting money lender sites in advertising with search engines’ sponsored links (such as Google AdWords and Bing AdCenter).
As of June 2012, Google AdWords prohibits the advertising of money lending services such as cash loans. This is in compliance with the clarification memo issued by the Insolvency and Public Trustee’s Office (IPTO) of Singapore, under the Ministry of Law, that lists the permitted and restricted media channels where members of Singapore Money Lenders Association can advertise.
Since November last year, the IPTO states that licensed money lenders are permitted to advertise only in the following media:
*online and print business directories
*web sites owned by the money lenders
*within the place of business of the money lenders
Meanwhile, the following advertising channels are prohibited by the IPTO:
*social media sites like Twitter and Facebook
*sponsored links through search engines
*print media directories that caters just to moneylending businesses
*online directories that are supposed to be for other business categories
Non-compliance on the aforementioned rules may result in the revocation of the money lenders’ license and is an offence punishable on conviction, with a fine not exceeding S$20,000.