Loan sharks prey on elderly

15 September 2015 - 02:24
By Wendy Knowler

Imagine giving up custody of your bank card, pension card or ID document to a stranger who escorts you to the ATM or pension point every month so you can withdraw money and hand some of it over. It's both a criminal offence and a contravention of the National Credit Act for money lenders to do this, but many continue to do so to ensure they get their money back - with crippling interest.

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