Regulatory Alerts2021-09-10
Added · Updated
Circular 04 of 2022 - Sale of Debt Review Leads and Consumer Personal Information
The National Credit Regulator prohibits the sale and purchase of debt review leads and consumer personal information, citing violations of Section 68 of the National Credit Act and the Protection of Personal Information Act. This conduct is criminalized under the National Credit Act, exposing offenders to fines and imprisonment of up to twelve months. Registrants and other entities in the credit industry are instructed to immediately desist from disclosing, purchasing, or selling such confidential data. Non-compliance will result in investigations by the National Credit Regulator and potential referral to the Information Regulator.
Topics
privacy
credit
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