Prescribed Purpose

Purpose  

Further Information  

Credit Risk Assessment  

• Undertaking a credit assessment in respect of a consumer, as required by Section 81 (2) of the Act.  

Credit Limit Management  

• Undertaking a credit assessment in respect of a consumer, as required by Section 81 (2) of the Act. o be used only by credit providers for assessing an existing customer for the purpose of increasing or decreasing a credit limit with consent.  

Insurance Application  

• Assessing an application for insurance, provided that the consent of the consumer has been obtained prior to the report being requested; (Regulation 18(4)(f) of the National Credit Act Regulations)  

Employment (handling finances)  

• Considering a candidate for employment in a position that requires trust and honesty and entails the handling of cash or finances, provided that the consent of the consumer has been obtained prior to the report being requested; OR Verifying educational qualifications and employment provided that the consent of the consumer has been obtained prior to the report being requested; (Regulation 18(4)(g) of the National Credit Act Regulations)  

Fraud, Corruption, or Theft Investigation  

• An investigation into fraud, corruption or theft, provided that the South African Police Service or any other statutory enforcement agency conducts such an investigation; (Regulation 18(4)(a) of the National Credit Act Regulations)  

Fraud Detection and Fraud Prevention  

• Fraud detection and fraud prevention services; (Regulation 18(4)(b) of the National Credit Act Regulations)  

Setting limit for goods/utility/service  

• Setting a limit in respect of the supply of goods, services or utilities, provided that the consent of the consumer has been obtained prior to the report being requested; (Regulation 18(4)(e) of the National Credit Act Regulations)  

Unclaimed funds distribution  

• Obtaining consumer information to distribute unclaimed funds, including pension funds and insurance claims; (Regulation 18(4)(h) of the National Credit Act Regulations)  

Affordability / Financial means assessment  

• Undertaking a credit assessment in respect of a consumer, as required by Section 81 (2) of the Act.  

Pre-screening/ Marketing  

• Pre-screening by credit providers for affordability assessment, in order to market credit products to consumers with opt-out consent.  

Debtor's Book Assessment  

• An assessment of the debtor’s book of a business for the purposes of:(i)the sale of the business or debtors book of that business; or (ii)any other transaction that is dependent upon determining the value of the business or debtors book of that business.  

Tracing by credit provider/agent  

• Tracing a consumer by a credit provider in respect of a credit agreement entered into between the consumer and the credit provider.  

Debt Counselling  

• For use by registered Debt Counsellors to determine the Credit Bureau status of a consumer