Tag: fraud
Scammers turn to phone calls as banks clamp down on fraud
The banking industry has noted an increase in clients who have been duped by fraudsters posing as bank officials, tax officials or investment companies. In response, Standard Bank has now invested...
KPMG statement – Fidelis Moema
Ignatius Sehoole, CEO of KPMG South Africa
KPMG South Africa played an integral part leading to the arrest of former employee, Fidelis Moema, following the firm identifying potential fraud committed against the...
How businesses can protect themselves against fraud
South Africa’s turbulent economic climate has increased the exposure of local businesses to a number of significant risks. Among these are risks related specifically to fraud. The two most common of...
Efforts in full swing to clean up Eskom
Efforts to root out, unravel and disrupt corruption at Eskom are gaining momentum.
This is according to President Cyril Ramaphosa through his weekly newsletter.
Over the past few months, several operations by law...
Banks have 18 months to impact SA’s greylisting
Here’s how they can help get the country off the grey list Â
In January 2025, the global anti-money laundering watchdog, the Financial Action Task Force (FATF), will review its decision to greylist...
Former Eskom official sentenced to 10 years for fraud, theft
A former Eskom administrative clerk has been sentenced to 10 years imprisonment for defrauding the power utility of more than R2.6 million.
The former clerk, Nwabisa Ngxola, together with co-accused businessman Michael...
When integrity fails: The networks linked to Eskom contracts
The Kusile corruption case shows former Eskom executive Matshela Koko allegedly tried to use his politically connected businessman friend to launder a bribe payment. Now OUTA has looked at the businessman’s...
How companies could protect themselves against hijacking
By Lesego Modise, a Candidate Attorney in Dispute Resolution at CMS South Africa
In 2014, a fraudster was convicted of company hijacking. This conviction for company hijacking, the first of its kind,...
Protection for Samsung Pay users against SIM-swap fraud
CAPITEC customers now enjoy added protection when using Samsung Pay thanks to Entersekt’s SIM age validation capability, also known as MNO (Mobile Network Operator) Authentication. The silent risk signal, which recognises...
South Africans less exposed to QR code fraud, despite international worries
The war in Ukraine has added concerns to an already tense cybersecurity environment. What’s more, recent international coverage about scammers using QR codes to misdirect funds is fuelling fraud uncertainty. But...
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Deep sea trawlers are concerned about the impact of oil and...
By Larry Claasen
SADSTIA says it is not opposed to offshore oil and gas exploration but says long-term impacts on established industries must be considered.
SOUTH...