Scammers have created a fake National Credit Regulator website - DON'T fall for it!

Stephen Grootes is joined by consumer journalist Wendy Knowler on The Money Show.

Consumer ninja Wendy Knowler has warned time and time again of dodgy companies forcing vulnerable South Africans into debt review.

They entice people with promises of significantly reducing monthly debt repayments, usually through aggressive cold-calling tactics, and once enrolled, consumers face a nightmare to exit the process

RELATED: Dodgy companies are forcing vulnerable SAns into debt review - what can be done?

This week on The Money Show, Knowler reports on something that takes this kind of scam to a completely different level - a fake National Credit Regulator (NCR) website.

'You really couldn’t make this one up', she laments.

"Fraudsters, knowing how many people are being scammed into going under debt review, have set up a scam website, purporting to be an official National Credit Regulator site, and inviting victims to contact them for help – after providing ALL their personal info."

Wendy Knowler, Consumer Journalist

The real Credit Regulator has issued an alert about the fake website at www.NCRSwift.org.za

The platform is not authorised, not affiliated, and not recognised by the NCR in any capacity, it warns.

"It is suspected that the purpose of this website is to obtain consumer personal information supplied when completing the forms on the site and unlawfully sell such information to other entities to provide other 'services' such as unlawful debt review removal and alternative dispute resolution services."

National Credit Regulator

Knowler warns again about falling for the story spun by a caller whose opening line is something like: 'Your  monthly instalments are too high -we can reduce them for you…'

She implores consumers to JUST END THE CALL.

"And if you somehow get to the part where you are asked to approved something – anything – on the phone or on a form they send you, REFUSE!!!"

Wendy Knowler, Consumer Journalist

"And if you’ve already been caught, know that the NCR has NOT set up a website to help you. Don’t fall for that either."

Wendy Knowler, Consumer Journalist

For more detail, listen to he interview audio at the top of the article