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NCR says 'no one is spared' in loan shark raids

15 September 2015 7:58 AM

Five alleged illegal credit providers have been arrested after Western Cape raids conducted by the National Credit Regulator.

The National Credit Regulator (NCR) conducted raids in the Western Cape which have led to five arrests this past week.

The raids were in an effort to root out credit providers who are contravening the National Credit Act (NCA).

Together with the South African Police Serivices (Saps), the NCR investigated 21 credit providers around Wellington, Paarl, Stellenbosch, Strand, Woodstock, Robertson, Bellville, Goodwood and Wynberg.

The suspects were found holding 71 pension cards, seven identity documents and at least five bank cards.

Jacqueline Boucher, Acting Manager for Investigations and Enforcement at the NCR says no illegal credit providers will be spared in raids across the country.

Listen to the full conversation from CapeTalk's Breakfast with Kieno Kammies:


15 September 2015 7:58 AM

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