A 32-year-old woman who was illegally operating as an unregistered credit provider was arrested today, 18 May 2023 by the Hawks Serious Commercial Crime Investigation team together with officers of the Regulator for breaking the National Credit Act (NCA) requirements to register as a credit provider. During the search, ID documents, SASSA and bank cards as well as six record books of the clients were recovered.
The suspect has been lending out money and charging fees as well as interest without being registered with the National Credit Regulator (NCR).
The illegal moneylender has also been taking consumers’ bank and SASSA cards as “security” from clients as well keeping their ID books. The suspect is expected to appear in the Paarl Magistrates’ Court on 1 June 2023.
This is also illegal according to the National Credit Act and if consumers are ever asked for these items they should report it to the police immediately (and refuse). The Provincial Head of the Western Cape has commended the team for the arrest and also cautioned the public when it comes to loan sharks or mashonisas as they are also known as, saying that they are ruthlessly preying on financially struggling South Africans.