NCR Assist SAPS In Arrests

Illegal Credit Providers Arrested

It is illegal to operate as a credit provider without being registered with the National Credit Regulator (NCR). It is also illegal to force a customer, who takes a loan, to give up their ID, SASSA Card or bank card when taking a loan.

atmThe cops (along with the NCR) this week (as the month began) set up a stake out in Nigel, where they observed several suspicious men busy at ATMs in the early and still dark hours of the morning. The men were busy using consumers cards to draw money. The cops swooped and arrested the men who they found to be in possession of thousands of unlawfully retained SASSA Pension cards and Bank cards.

 

Residents of Nigel who had been forced to hand over cards and codes by such unregistered or illegally operating credit providers should go to the Nigel police station to try collect their cards.

Not only will the SAPS prosecute these credit providers but the NCR will, where appropriate, take the matters before the National Consumer Tribunal. This will, in all likelihood, mean these consumers will not have to pay back any funds loaned and these credit providers can be fined or shut.

 

 

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