Greedy Gogo Busted
The cops in the Northern Cape have been busy busting people illegally operating as credit providers, and breaking all the rules in the National Credit Act & regulations.
“Operation Mashonisa” is aimed at catching small cash loan sharks who prey on vulnerable communities, and is a joint operation involving the NCR.
Recently, the provincial organized crime investigation unit ran 2 raids in the Kimberly area, and arrested 2 women (one 41 years old and the other a 70 year old) who have been fleecing their communities. These women had been illegally taking documents from consumers (like ID books) and charging all sorts of incorrect and illegal fees.
The cops seized several documents and items, including R25 000 in cash. The matter now goes to court where prosecution and fines are likely to follow.
If anyone loans money (of any amount) for a fee or interest, they have to register with the NCR as a credit provider, and stick to all the rules found in the National Credit Act.