POLICE WARNING: Do not carry large amounts of cash

As the festive season draws near Newcastle SAPS caution the community about carrying cash.

Members of the community are urged to have their guard up at all times to reduce the risk of becoming victims of money scams.

Money-safety tips

• Carry as little cash as possible
• Consider the convenience of paying your accounts electronically (consult your bank to find out about other options available)
• Consider making use of cell phone banking or internet transfers or ATMs to do your banking
• Never make your bank visits public, even to people close to you
• Vary the days and times on which you deposit cash
• Do not openly display the money you are depositing while you are standing in the bank queue
• Avoid carrying moneybags, briefcases or openly displaying your deposit receipt book
• It is advisable to identify another branch nearby that you can visit to ensure your banking pattern is not easily recognisable or detected
• If the amount of cash you are regularly depositing is increasing as your business grows, consider using the services of a cash management company
• Refrain from giving wages to your contract or casual workers in full view of the public; rather make use of wage accounts that can be provided by your bank
• Consider arranging for electronic transfers of wages to contract or casual workers’ personal bank accounts.

Tips for Stokvel Groupings

Recently, there has been a stark increase in stokvel scams where people put their money into a group with the agreement that they would get their money back with a large amount of interest.

However, people never get this money back and the company runs off with this money leaving thousands broke and poor.

Newcastle SAPS offers some tips on how to avoid being a victim of this crime:

• Ensure persons depositing club cash contributions or making withdrawals are accompanied by another club member
• A Stokvel savings club or burial society can arrange for members to deposit cash directly into the club’s account instead of collecting cash contributions
• Arrange for the club’s pay out to be electronically transferred into each club member’s personal account or accounts of their choice
• Take a person with to accompany you when depositing club cash contributions

Stay alert this festive season.

Contact us

WhatsApp: 082 874 5550

Email: Reveshni Douglas (Editor) at reveshni@caxton.co.za

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