Credit Screening

Background Screening Index 2016

Download the full Background Screening Index 2016


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Credit Record Checks

Credit (or Credit Bureau) checks provide businesses and potential employers with insight into how employees manage cash or finances. The results include details of defaults, judgements, notices, disputes and previous enquiries (amongst others) from various Credit Bureaus in South Africa.

Industries requesting Credit Checks:

  • Financial Service Providers
  • Professionals in the banking sector
  • Registered professionals like Chartered Accountants and Financial Advisors
  • Retail industry - Cashiers

MIE is a registered Credit Bureau and is therefore required to comply with the regulations as set out in the National Credit Act Amendment 19 of 2014 (NCAA), which came into effect in March 2015.

In line with the latest Amendment, a consumer credit record may only be accessed by an employment agency, recruitment consultant, staffing company or employer when:

  • They certify that the request for consumer credit information relates to a position requiring honesty in the handling of cash or finances;
  • There is a job description in place that stipulates the requirement of trust and honesty in the handling of cash or finances; and
  • Specific and informed consent of the consumer is obtained prior to the request being made.

FACE THE FACTS... There has been a decline in the verification of candidates’ credit history due to the amendment to the NCA and legislation changes.

CREDIT CHECKS - VOLUME & RISK (Click to ZOOM)