Fleecing the poor

Fleecing the poor

Unscrupulous operators are draining cash from the bank accounts of people who don't understand what they've got into. Platinum Africa is either taking money without instructions or taking money on instructions that are suspect.

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Reader's comments

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Submitted by : Jennifer Spear of KAAPMUIDEN on 2010-01-04 16:15:10
I don't understand how it is difficult for the banks to identify the payee. It doesn't say much for security - so anyone could be funding a terrorist organisation and it would not be traceable? How is this possible?

It seems to me that the banks are just not interested - you probably hit the nail on the head when you said the bank gets R4 for every debit and R3.50 for every reversal - they are just money grabbers.

At my bank, you can no longer get through to the branch, instead you are rerouted to a call centre, where the staffers don't know banking or you as a customer, to be frank. If it weren't for the fact that I have the cell number of someone at the branch, who happens to not only have authority and a brain, I would probably have let loose a lot more than a box of snakes. It certainly wouldn't help changing banks, each one is as bad as the next, and that's what they bank on. Excuse the pun.
Submitted by : Scott Cundill of Johannesburg on 2009-12-27 20:52:10
If it wasn't for Noseweek Platinum would still be having a field day without opposition. 40,000 bounced debit orders and the banks don't do anything about it. I am very greatful to you guys.
Submitted by : of Johannesburg on 2009-12-26 08:52:18
Thus article is very somilar to the "SOS assist" scam that surfaces earlier this year. I had to assist my domestic servant unscramble a series of charges to her account. All debits ended in "99" (like Edgars pricing), but the capital amounts varied. When reporting to Nedbank it took weeks to get anywhere. By accident a colleague found a Google site" linked to "Unlimited Group" As per this article, the call centre was similar and gave us the run around, until I made serious threats. At the time, when trying to identify how they had discovered the domestic's bank details, and checking all possible options, I developed a view (suspicion) that the likely informant was someone inside Postbank which handled the Sasol Inzalo Scheme (I had applied on behalf of our domestic servant and provided all FICA detail on the application). I retain the view that in time, there will be risk and trouble for many to access their Sasol Shares & dividends because of this. To conclude, there is way too much FICA information in circulation and uncontrolled.

Trevor C Barnes

Editor's Note
The notoriety of Unlimited Group, AKA Premier Growth Group is no stranger to Mr. Nose, see http://www.noseweek.co.za/article.php?current_article=1888 and http://www.noseweek.co.za/article.php?current_article=1972 But before Consumer Protection Law is enacted, victims would continue to rely on people like you to demand answers.
Submitted by : William Botha of Kraaifontein on 2009-12-25 14:07:00
Basically the whole group, FNB, RMB, Discovery and their short-term insurance OUTsurance inflict a huge burden on the SA economy. Research this pease.


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