Thirteen individuals have been arrested after the National Credit Regulator (NCR) and the South African Police Service (SAPS) joined forces to stop abusive micro-lenders and ensure compliance with the National Credit Act (NCA).
“The focus of this kind of operation is primarily on credit providers who are unlawfully garnishing, retaining pension cards, bank cards, identity documents and personal identity numbers (PIN) of their clients as surety,” said Nomsa Motshegare, CEO of the NCR. “This is a contravention of the National Credit Act and it is a criminal offence,” she added.
Eleven criminal cases were opened after the suspects were found to be in possession of 5 453 pension cards, 130 ID books and 1 720 bankcards. The effort also involved the Directorate of Priority Crimes and Investigation in Upington, Keimos, Kakamas and Groblershoop and 32 lenders were investigated.
The clampdown is part of the NCR’s ongoing strategy to ensure that all credit providers comply with the provisions of the NCA. “The exploitation of vulnerable and unsuspecting consumers by credit providers will not be tolerated,” added Motshegare.
Motshegare complimented the SAPS and the Directorate of Priority Crimes and Investigation from Upington, Keimos, Kakamas and Groblershoop for their excellent assistance to the NCR during this operation, and for their willingness to assist consumers.
“This operation was definitely not the last of its kind. Such operations are conducted nationally in different parts of the country. Credit providers should be warned that the NCR will not condone any contraventions by credit providers,” concluded Motshegare.
NCR clamps down on micro-lenders
Recent Articles
Featured Fuel rewards programme – how to fill up on petrol and points
South Africa’s volatile economy has often meant that factors like the fuel price bear the brunt. This year alone the country’s fuel price has fluctuated by between R1.50 to almost R3, which has put increasing pressure on motorists. That said, many of the bigger South African brands have provided some relief by way of fuel rewards programmes.
Are you entitled to your spouse’s pension after divorce?
Divorce means more than just parting ways with your partner. It may also involve parting ways with your assets. The Divorce Act states that your retirement fund forms part of your assets. This means that it will be considered when dividing up your assets.
Retrenched – which payments are you entitled to?
In the current struggling economic climate, retrenchments are a regular occurrence and not everyone survives the cut. If you find yourself on the receiving end of retrenchment you may have questions about the payments that are due to you.
Do you want to settle your debt?
You may be considering settling your credit account, whether it’s a credit card or various store accounts, now may be as good a time as any. This especially if you have saved, or you received a tax return or salary bonus.
Deals
Builders Black Friday Special
Price: R5000
When: Until 29 November 2019
Where: Online
Café Rousse Monday Special
Price: Available on request
When: Mondays
Where: Nationwide
Skye Bar Mojito Special
Price: R55
When: Until 31 December 2019
Where: Johannesburg
Our suppliers and companies we review
