National Credit Regulator tackles unscrupulous loan sharks

The National Credit Regulator (NCR) is working with the South African Police Service (SAPS) to target “loan sharks” – credit providers who are using abusive methods to collect outstanding debts.

handcuffs‘Operation Siyanda’ which was held in the Northern Cape recently is the latest in a round of operations conducted by  SAPS which have included Thohoyandou, Venda, Eastern Cape, KwaZulu-Natal, Western Cape, North West and the Limpopo Provinces. As a result of these operations, six court cases have already been finalised with fines of up to R10 000 or twelve month imprisonment suspended for five years.

“The focus of this kind of operation is primarily on credit providers who are unlawfully garnishing, retaining pension cards, bank cards, identity documents and personal identity numbers (PIN) of their clients as surety,” said Nomsa Motshegare, CEO of the NCR. “This is a contravention of the National Credit Act (NCA)and it is a criminal offence.”

The NCR partnered with the SAPS and the Directorate of Priority Crimes and Investigation in Upington, Keimos, Kakamas and Groblershoop, investigating 32 lenders. This led to the arrest of 13 individuals who contravened the NCA.

During the operation, 13 people were arrested and as a result 11 criminal cases were opened. In addition, the suspects were found to be in possession of 5 453 pension cards, 130 ID books and 1 720 bank cards.

“This operation was definitely not the last of its kind. Such operations are conducted nationally in different parts of the country. Credit providers should be warned that the NCR will not condone any contraventions by credit providers”, says Motshegare.

If you are aware of credit providers using illegal means to collect outstanding debts such as withholding bank cards you should report them to the National Credit Regulator:

Telephone: 011 554 2600 or 0860 627 627
Email: complaints@ncr.org.za
For complaints regarding debt counseling: dccomplaints@ncr.org.za

13 CommentsLeave a comment

  • There is a guy by the name of Themba “Bra Nicky” he is a taxi owner/mashonisa who is taking peoples IDs and wants 50% when people borrow money. One of my family members was pointed with a gun and they haven’t been assisted by the police as this guy eithee bribed the police.

    His contact details are 0827129801and he has 3 houses that he uses to hide peoples IDs two houses in Meadowlands Zone 10 and one in Skodpola.(Soweto)

    Could you please assist and help the poor as this guy is really beating people up and it hurts seeing old people being hit that way.

  • There is a guy by the name of Themba “Nicky” he is a taxi owner/mashonisa who is taking peoples IDs and wants 50% when people borrow money. One of my family members was pointed with a gun and they haven’t been assisted by the police as this guy either bribed the police.

    His contact details are 0827129801and he has 3 houses (including his mothers house) that he uses to hide peoples IDs two houses in Meadowlands and one in Skodpola.

    Could you please assist and help the poor as this guy is really beating people up and it hurts seeing old people being hit that way.

  • These loan sharks don’t call you guys or force you to borrow their MONEY.

    You take their numbers and call them for help because you’re black listed you cant be assisted at banks.
    Then when it’s paying time you come with stupid excuses you morons.

  • Good day I am working with a guy lending money for people with high interest and he is not registered how do I report him without him knowing it was me?

    • I have just called NCR right now with the same problem of the people that I know that are lending money, not registered, their interests so unbelievable high and still have the never to threaten. I called the NCR as per the advertorial here and they say that they cant assist, so exactly who is suppose to be reported?

  • I have an issue with Lifestyle Legal LTD, they claim i applied for a loan which i never received or did and now they wanting to blacklist me and put judgement against me, i asked where they got my details and ID from and send me proof until this day no proof has been submitted to me. Just harrassing me to pay R1452.50 and my attorney suggested i get hold of you guy’s to see what you can do for me.

    Their details as follows:

    0860-022-141 the reference they gave me is: 9521013436055 their email addresses are: help@lifestylegal.co.za or recovery@lifestylelegal.co.za

    My attorney details are as follows: Don Bruwwer 083-458-1212 and he thinks this is all a scam as he has contacted them telling them he is representing me and to not harrass me and they still continue. Threatening to blacklist me and put me on ITC which i find unfair as i did not apply or receive any loan from them nor given my ID or any details that they cannot verify how they got those details.

    • I recommend you report their actions to the National Credit Regulator – they will soon be able to see if they are running a scam. You have a lot of rights in this situation – if they wish to bring a judgement it has to go to court first where you can argue your position. If they put information on a credit bureau you can request for it to be removed. Sounds like they are just using scare tactics

    • I borrowed money from the other girl. Full amount suppose to be R700 but I paid her R200 last month, now my balance is R500. I told her that I’m no longer working anymore my contract expired. Now she’s threatning me.

      What can I do to resolve this?

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