Five arrested in raids on suspected illegal credit providers

FIVE people have been arrested in the Cape in the past week for contravening the National Credit Act.

The National Credit Regulator said yesterday that raids to root out illegal credit providers were conducted in Wellington, Paarl, Stellenbosch, Strand, Woodstock, Robertson, Bellville, Goodwood and Wynberg. The regulator investigated 21 credit providers, said spokeswoman Jacqueline Boucher.

‘The suspects were found to be in possession of 71 pension cards, seven ID books and five bank cards,’ she said.

The focus of the raids was primarily on credit providers who were unlawfully retaining pension cards, bank cards, identity documents and personal identity numbers (PINs) of their clients as surety.

The raids formed part of the regulator’s strategy to ensure that all credit providers complied with the National Credit Act. – ANA