Overextended South African (SA) consumers navigating financial difficulties are being warned against a rising wave of fraudsters masquerading as legitimate debt counsellors.

According to figures from the National Credit Regulator (NCR), more than half of the country’s 27 million credit-active consumers currently have impaired credit records. Financial experts warn that this widespread economic distress has created a highly vulnerable pool of citizens targeted by opportunistic scammers.

DebtBusters Executive Head, Benay Sager, has cautioned the public to remain deeply suspicious of any unsolicited phone calls from individuals claiming to represent or be mandated by the regulatory authority. Sager noted that the watchdog is highly unlikely to contact consumers directly or distribute individual financial details to third-party entities. He urged targeted consumers to immediately terminate suspicious conversations and report the incidents to both their banking institutions and the NCR.

–ChannelAfrica–