BE WARY OF ATM CRIMINALS

BE WARY OF ATM CRIMINALS sadmin

The end of the year is a time for festivities, but criminals are also licking their lips, waiting to pounce on unwary people. Before you travel or visit friends and family, take safety measures and protect your belongings. When drawing money, be wary of ATM criminals.

Robbed

Mr Khuli, a 49-year-old factory worker, clearly remembers what happened to him last year. He just got his December bonus and really looked forward to spoiling his wife and children.

He went to the nearest ATM to draw money to buy them some goodies. He knew the area well and didn’t think anything bad could happen. When he put his card into the machine and entered his PIN, the machine returned the card. Then someone came to him from nowhere and offered help, but the card still didn’t work. The man advised Mr Khuli to report the problem at his bank, but the bank was already closed.

The next morning, he was first in the queue. He left his luggage with a street seller next to the entrance. When the bank assistant told him that all his money had been withdrawn, he nearly fainted. He stumbled outside to get his luggage, but the street seller was gone. He had been robbed of his money and his luggage.

Tips to avoid criminal activity at ATMs

  • Never give your card or your PIN to anyone, not even a bank official, security personnel or a police official.
  • Avoid ATMs in deserted places or late at night.
  • Avoid drawing money when you are alone.
  • If you feel unsafe at an ATM or if you distrust people hanging around, leave immediately and use another ATM.
  • Never write down your PIN or carry it anywhere near your ATM card. Memorize it and keep it a secret.
  • Keep telephone numbers for reporting lost or stolen cards.

While using the ATM

  • Never accept any help from strangers or let a stranger touch your card.
  • Insert your card only when instructed to do so by the display screen.
  • Never force your card into the card slot.
  • Be sure no one is looking over your shoulder when you key in your PIN.
  • Cancel your card if the machine swallows it by calling the card stop number.

After the transaction

  • Make sure that the machine returns your card after you have drawn money.
  • Rather draw small amounts of money. Some banks can set your daily limit.
  • Do not count your money in front of the ATM.
  • Be watchful of people following you (on foot or in a car). If you think you are being followed, get yourself to the nearest public place as quickly as possible.

- South African Police Service

DON'T BE SCARED OF BIG BUSINESS

DON'T BE SCARED OF BIG BUSINESS sadmin

Tune into your radio or television or look through the business pages of newspapers and you will be greeted by scary words like the Johannesburg Stock Exchange, investments or stocks and shares. Just what are these things and why do we have to care about them? Vuk’uzenzele went to the Johannesburg Stock Exchange, or the JSE as it is commonly known, for some answers.

What are stocks and shares?

The main buyers of stocks and shares are usually big financial institutions like insurance companies, but private investors may also buy stocks and shares.

Stocks and shares, which are also sometimes called equities, are basically the same thing. They represent ownership in part of a company or corporation. This means you buy shares or stocks in a company.

By doing this, however big or small, you invest some money in the company and become a part owner of the business, sharing in its success or failure. If you own shares you will receive dividends from the company. Dividends represent part of the company’s profits.

What is the stock exchange?

A stock exchange is also sometimes called a stock market. It is like an organised marketplace where people trade (buy and sell) the shares of big companies which are on the official list of the stock exchange.

The people who work at the stock exchange and who help their clients buy shares are called stock brokers or dealers. They work in line with strict rules and regulations.

Many countries have stock exchanges where shares of companies in that country are traded. South Africa’s stock exchange is the JSE in Johannesburg.

Why buy shares?

Buying shares is a way to grow your money. If the company whose shares you bought is successful and grows, your shares will also grow. On the other hand, if the company is unsuccessful, your shares will drop. So before buying shares, it is important to get advice from an experienced investment consultant on which shares to buy.

A person who owns shares is called a shareholder. Shareholders have the right to vote on decisions about the company.
 

For more information on the stock exchange, you can ask an investment consultant at your bank to help you, or contact the JSE Education Division: 011 520 7127.

- Ndivhuwo Khangale