To ensure the fair recovery of debts and make provision for the regulation and control of fees charged by debt collectors, a regulatory body named The Council for Debt Collectors was created by an Act of Parliament.

Section 20 of the Debt Collectors Act stipulates Every debt collector who practises for his or her or its own account, shall open and maintain a separate trust account at a bank as defined in the Banks Act, 1990 (Act 94 of 1990), and shall deposit therein as soon as is possible after receipt thereof the money received or held by him or her on behalf of any person.