Kidnapped by loan shark: Authorities sweep on dodgy credit providers

31 August 2017 - 11:49 By Timeslive
The NCR and police swooped on credit providers seizing hundreds of bank cards‚ pension cards‚ identity documents and personal identity numbers belonging to their clients. File photo.
The NCR and police swooped on credit providers seizing hundreds of bank cards‚ pension cards‚ identity documents and personal identity numbers belonging to their clients. File photo.
Image: Gallo Images/ IStock

Credit providers holding on to bank cards as surety for loans have been raided in Mpumalanga and Limpopo.

One of the suspects allegedly kidnapped a consumer.

The National Credit Regulator (NCR) and police swooped on credit providers on Tuesday and Wednesday‚ seizing hundreds of bank cards‚ pension cards‚ identity documents and personal identity numbers belonging to their clients.

“In Northam‚ Limpopo‚ on Tuesday ... over 800 consumer instruments‚ being both South African Social Security Agency cards and bank cards were seized from a credit provider‚” said Jacqueline Peters‚ manager of the investigations and enforcement department at the NCR.

“In a separate operation in Mpumalanga‚ on Wednesday… an unregistered credit provider‚ who was retaining cards and was alleged to have kidnapped a consumer was arrested‚” added Peters.

It is a criminal offence for credit providers to retain cards‚ identity documents and personal identity numbers as debt collection instruments.

“We urge consumers who have handed their identity documents or bank and pension cards to this credit provider to report to the respective police station to collect their instruments‚” concludes Peters.


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