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SAFETY FIRST THIS FESTIVE SEASON

By Finance Simplified | 2024-12-13

As we embrace the festive season, it is crucial to prioritise your safety and that of your fellow stokvel members.

The holidays are a time for joy and celebration, but they can also attract those looking to take advantage of the festive spirit. With a number of people saving in stokvels, these groups can easily become targets for criminals.

Many individuals look forward to celebrating with family and friends. However, it is crucial to remain vigilant, especially when it comes to financial matters such as stokvel payouts.

Criminals are increasingly targeting stokvels, exploiting the festive spirit to scam unsuspecting members.

Therefore, it is important to remain vigilant and take proactive measures to ensure everyone’s safety during this joyful time.

Understanding Stokvels
Stokvels are informal savings schemes where members contribute a set amount regularly, pooling their resources for mutual benefit. While these schemes can be a great way to save and share resources, they also attract criminal elements looking to exploit members during the holiday season.

Stay Informed
and Vigilant
Staying informed is your best defence against potential scams.

Keep yourself updated on common scams that may arise during this time. Be cautious of unsolicited messages or offers that seem too good to be true.

Make sure to communicate regularly with your stokvel members about any suspicious activities.
Sharing information can help everyone stay alert and protected.

Prevention is Key
Remember, prevention is always better than cure.
By taking proactive steps, you can safeguard your hard-earned savings. Here are some tips to keep in mind:

n Verify Sources: Always double-check the legitimacy of any offers or requests for funds.
n Secure Your Information: Use strong, unique passwords for your accounts and change them regularly.
n Report Suspicious Activity: If you encounter anything questionable, report it to the relevant authorities.

Enjoy a Joyful and Secure Holiday Season
By prioritising safety and being vigilant, you can ensure that you and your stokvel members enjoy a joyful, secure holiday season.

Let the spirit of the holidays shine through without the worry of scams dampening your celebrations! Stay safe and happy holidays!
Key Risks to

Watch Out For
Fraudulent Payouts: Be wary of individuals claiming to represent your stokvel, especially if they request sensitive information or payments in advance.

Phishing Scams: Criminals may attempt to steal personal information through fake emails or messages that appear to be from legitimate stokvel organisations.
Impersonation: Scammers may pose as trusted members or leaders of the stokvel to gain access to funds.

Tips for Staying Safe
n Verify Claims: Always verify any requests for information or payments through official channels before taking action.

n Secure Communication: Use secure channels for communication within your stokvel, and avoid discussing sensitive information in public forums.
n Educate Members: Conduct training sessions or distribute information on recognising scams among stokvel members, especially those who may be less tech-savvy.

n Report Suspicious Activity: Encourage members to report any suspicious activity or communications to the authorities promptly.

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