Spending money that isn't rightfully yours could land you in court, says Pasa

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.

Read: WSU makes costly mistake by depositing R14 million into a students 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.

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WSU blocks student account after R14m error

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The University spokesperson says the student is aware that she has to pay the R500k back as it is a loan.

WSU makes costly mistake by depositing R14 million into a students account

WSU makes costly mistake by depositing R14 million into a students account

We understand that this is money the university will need to account for says Kagiso Mamabolo, NSFAS Spokesperson.

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