Stokvel-related robberies and thefts are most prevalent during the festive season, and members are urged by police to adopt reasonable measures to safe- guard their money. Unfortunately, a number of stokvels still believe in the old tradition of sharing hard cash, and criminals know that some stokvels still do bulk withdrawals. We’ve all heard of incidents where someone has been robbed of their stokvel money at an ATM or just outside a bank, and in some cases, they have been followed from the ATM or bank by the robbers. Prevent your stokvel club from falling victim to these criminals this festive season by adopting safety measures.
HERE ARE A FEW TIPS FROM THE SOUTH AFRICAN BANK- ING RISK INFORMATION CENTRE (SABRIC) AND THE SOUTH AFRICAN POLICE SERVICE (SAPS) TO ENSURE SAFE TRANSACTIONS:
- Stokvel members should be vigilant and take pre-cautions to safeguard their money when making withdrawals at ATMs.
- They should not withdraw large sums of money, especially after hours when the streets are quiet, and criminals are likely to be lurking around. They should rather use the ATMs at shopping malls, where there are security officials on duty, during business hours when it is safer.
- Instead of withdrawing large amounts of cash from the bank to pay out members, rather transfer the money into members’ bank accounts. Any member who does not have a bank account should be encouraged to open one.
- Clubs that have to pay cash to their members, which is inadvisable, should ensure that their venue is secure, with ad- equate safety measures in place, when dividing and paying members their share of the year’s savings.
- Stokvel clubs can also request their local police to patrol the vicinity of the venue where they plan to make payments to their members in order to deter criminal elements.
GROCERY BULK-BUYING
Stokvels are not only robbed of their cash, we have also read stories of hired delivery trucks being robbed or disappearing with the stokvel groceries. Find out if the wholesaler you will be buying from offers a delivery service or if they can help you with a reliable delivery-service provider. If not, it is best to book reputable transport services to deliver your groceries, preferably someone you know from the community.
Be extra vigilant during this period.