Stokvel safety tips ahead of the festive season
The festive season is officially upon us, and with December comes Christmas bonuses, 13th cheques, and for many - stokvel lump sum returns. It's also a high-risk period for criminal activity, with local police reporting a vast increase in the number of stokvel thefts in recent years. These are a few tips to safeguard yourself - and your money - during December.
A stokvel is a savings group to which members regularly contribute an agreed amount, and from which they receive a lump sum payment. In South Africa, hundreds of thousands of people belong to stokvels.
The police's Thulani Zwane says stokvel-related robberies and thefts are most prevalent over the festive period. He's encouraged stokvel clubs to adopt reasonable safety measures when withdrawing and sharing their money - to avoid becoming victims of crime.
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"We urge stokvel clubs to be proactive and adopt reasonable measures to safeguard their money. Stokvel clubs can request their local police to patrol the vicinity of the venue where they are to make payments to their members as this would deter criminal elements,"he said.
Zwane suggests that if withdrawing large amounts of cash, people should rather use ATMs at shopping malls during business hours when it is safer, or where there are security officials on duty.
Newswatch has compiled a further list of tips to help minimize the risk of becoming a target of theft and robbery:
* Do transfers instead of withdrawing large amounts of cash, to minimize the risk of you being targeted at a bank, and then robbed. By encouraging members to have their money deposited into their bank accounts instead of collecting cash. Members who do not have bank accounts should be encouraged to open one soonest, as this is safer than handling a large amount of money;
* If withdrawing cash, keep your plans secret. Don't let anyone know when or where you will be making the withdrawal;
* It's also a good idea to stagger withdrawals over a number of different days, instead of withdrawing a large amount at one time;
* Make sure you are not followed to and from the bank. Report suspicious activity to the police, immediately;
* Share money in safe locations. If you feel unsafe, request the presence of a police officer to assist;
* Certain police stations have facilities for the sharing of money. Contact your nearest police station to inquire if they are equipped to provide these rooms;
* Mondays and Fridays - and month-end days - are high-risk days for withdrawals at banks. If possible, avoid visiting the banks on these days.