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Police offer advice on how to safeguard stokvel savings

The police are offering timely advice to stokvel clubs ahead of the festive season to protect them against losing their hard-earned money to criminals.

NEWCASTLE – The police are offering timely advice to stokvel clubs ahead of the festive season to protect them against losing their hard-earned money to criminals.

Lieutenant Colonel Thulani Zwane,of the KwaZulu-Natal SAPS Corporate Communication Department said stokvel related robberies and thefts are prevalent this time of the year, and police urge stokvel clubs to be proactive and adopt reasonable measures to safeguard their money.

“Instead of withdrawing large amounts of cash from the banks to pay out money to their members they should rather transfer the money into their members’ bank accounts. Those members who do not have bank accounts should be encouraged to open them.”

Clubs who have to pay cash to their members should ensure they have a secure venue with adequate 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 are to make payments to their members as this would deter criminal elements.”

Members of stokvel clubs should be vigilant when making cash withdrawals at the ATM.

“They should not withdraw large amounts of money, especially after hours when the streets are quiet and criminals are likely to be lurking around. Rather use the ATMs at shopping malls during business hours when it is safer, and security officials are on duty,” he concluded.

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