When we contemplate crime, our minds immediately picture hijackings, house break-ins, petty theft, armed robbery and murder. In parody, criminals wear balaclavas and skulk around in the dead of night, but we seldom envisage them as malicious techno geeks with clever machines rigging foreign exchange markets in plain sight in brightly lit offices.While the National Credit Regulator’s (NCR) final regulations on credit life insurance have been welcomed by consumer protection bodies, they have done little to protect consumers who have opted for other types of insurance to cover debt in the event of death, retrenchment or disability. These consumers will continue to face excessive monthly premiums as the Financial Services Board (FSB) draws up rules bringing short-term and long-term insurance policies in line with the regulator’s rules on credit life insurance. The regulator’s rules will require credit life insurers to charge a maximum of R4.50 per month for every R1,000 owed on all cred...

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