Duped out of R6500.00

This company approved me for a loan. Once approved they requested a insurance deposit of R6500.00 which is refundable and after the loan repayment with 7% interest. Once the deposit was paid and the loan acceptance letter signed they requested a further R9275.00 for mandatory legal fees. Once i realized this was clearly not right i demanded my deposit back immediately. They then stated "Insurance deposits are only refundable at the end of the loan term duration, therefore should you cancel now the money paid will be forfeited." Once that statement was made it was clear that this is a ****. I notified them that i will be reporting them to the police and post all comunication on social media. Their response was " We are a reputable company. It is your choice to cancel. Our legal term will sue you should any miss information be seen out there. I will therfore advise not to try any socials. I have reported them to the SAFPS.