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Microlenders Grapple With Surge in Loan Scams

Tuesday, September 16, 2025 | 290 Views |

RED FLAGS: NBFIRA is noting rising cases of fraud in the microlending sector PIC MORERI SEJAKGOMO

Local micro-lenders are facing a rising tide of loan fraud, with financial regulator, Non-Bank Financial Institutions Regulatory Authority (NBFIRA), noting surging cases involving false identity loan applications that are hitting the country’s growing micro-lending market.

The fraudsters according to NBIFRA are taking advantage of fast-tracked loan approvals and weak verification systems.

NBFIRA’s Anti-Money Laundering Unit representative, Leonard Moeng, said the industry was under serious pressure as fraudsters exploit gaps in compliance.

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Microlenders Grapple With Surge in Loan Scams

Local micro-lenders are facing a rising tide of loan fraud, with financial regulator, Non-Bank Financial Institutions Regulatory Authority (NBFIRA), noting surging cases involving false identity loan applications that are hitting the country’s growing micro-lending market.

Human rights are sacred

Bakgatla Ba Kgafela celebrate as Kgosi Kgafela’s charges are dropped

First Lady's office hosts second annual thanks giving ceremony

PSLE performance on upward trend

Bona Life tee-off Maruapula Loxion Golf journey

Cops arrest young man, seize dagga in Metsimotlhabe

Second Mogoditshane rape attack in two weeks

Suspected suicide behind Sir Seretse Khama Barracks

Human rights are sacred