NCR exposes Northern Cape credit providers

Last month saw the National Credit Regulator (NCR) conduct raids in parts of the Northern Cape to expose credit providers who were in breach of the National Credit Act (NCA). The areas covered included Kimberly, Barkley West, Ritchie and Modder River.

“The NCR investigated 10 credit providers. This led to the arrest of four individuals who contravened the NCA”, said Jacqueline Peters, manager: investigations & enforcement at the NCR. 

The apprehended credit providers were caught in possession of ‘54 ID books and 86bank and SASSA cards.’

“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,” Peters added. 

In light of the upcoming municipal elections it is vital that this kind of criminal activity is dealt with, as not to hinder the development of potential voters and consumers. The NCR in addition conducted investigations on several entities that had cancelled their registrations voluntarily, or whose had lapsed due to non-payment of fees.

“Credit providers are reminded that it is their duty to ensure that their registration fees are paid and up to date at all times. 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,” Peters stated.

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