National Credit Regulator raids the Northern Cape

The National Credit Regulator (NCR) conducted raids in the Northern Cape on the 28th – 30th June 2016 to root out credit providers who are contravening the National Credit Act (NCA). Places that were covered include areas surrounding Kimberly, Barkley West, Ritchie and Modder River.

The NCR investigated 10 credit providers. This led to the arrest of 4 individuals who contravened the NCA, says Jacqueline Peters, Manager: Investigations & Enforcement at the NCR.

The suspects were found to be in possession of 54 ID books and 86 bank and SASSA cards.

Peters says 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. “This is a contravention of the National Credit Act and it is a criminal offence.” “With the elections nearing, we need to ensure that this kind of exploitation of vulnerable and unsuspecting consumers by credit providers is routed out as to allow consumers to vote”, she adds.

The NCR further conducted investigations on several entities in the area that had voluntarily cancelled their registration or whose registration had lapsed due to non-payment of renewal fees. “Credit providers are reminded that it is their duty to ensure that their registration fees are paid and up to date at all time. Continuing to trade after the lapse of their registration due to non-payment of registration fees is a serious contravention of the NCA. The actions of credit providers who do not fully comply with the NCA will not be tolerated and the necessary enforcement action will be taken”, she concludes.