The Payments Association of SA (Pasa) has warned that spending money which is not rightfully yours could lead to a law suit.
This comes after a Walter Sisulu University (WSU) apparently spent more than R400 000 of the funds, after National Student Financial Aid Scheme (Nsfas) accidentally deposited R14 million into her account.
It's the account-holders responsibility to return the funds, if the funds are not legally or rightfully theirs.— Walter Volker, CEO at Payments Association of SA
Pasa CEO Walter Volker explains that spending money intended for someone else raises both a legal and moral issues.
Also read: WSU blocks student account after R14m error
He says spending and withholding funds that are not yours could result in court action.
Take a listen: