Tag: fraud
Combating fraud with AI
“SINCE the onset of the COVID-19 pandemic early last year, financial institutions have accelerated their digital transformation programmes. Many customers have embraced using online channels for everything from applying for loans...
More dishonest claims made than insurers not paying out
According to a recent report by Asisa, despite insurers being accused of trying to avoid paying claims the numbers prove otherwise with 99% of claims being paid to the value of R16,7bn....
Beware of scammers: how to spot digital banking fraud
To prevent becoming the victim of fraudsters, it’s vital to be on guard, especially when using transactional, card-based accounts linked to cheque and savings accounts.
"The Office of the Banking Ombudsman recently...
Some truly acrobatic thieves leapt on the gravy train
The notion that profit is theft is popular in some quarters. It’s the insult often hurled at the business community when alleging that the free market is a skewed economic system....
What UK’s furlough fraud spike means for SA employers claiming TERS benefits
How to ensure claims don’t come back to bite
FURLOUGH fraud has been on the rise recently in the UK, with increasing reports of employers taking advantage of the government’s COVID-19 job...
Warning: Online shopping fraud on the rise – FNB
Fraudsters have increased their attempts to steal money from consumers in the wake of a rise in online shopping due to restrictions in physical shopping linked to the Covid-19 pandemic, First...
UIF Fraud: 28 bank accounts frozen as investigation into missing R5.7m continues
The Democratic Alliance said in a statement issued on 21 June that the R5.7 million UIF TERS fund fraud is "probably only the tip of the iceberg".
According to the Democratic Alliance...
South Africa: fraud considered more serious than murder Heavier punishment imposed
South Africa has seen a surge of fraud related crimes happening within white-collar business sectors of the country. Fraud constitutes a serious economic crime and should not be treated as a...
Increase in identity fraud cases in SA
A sharp increase in identity fraud across the country has been noted by The South African Fraud Prevention Service (SAFPS). The number of fraudsters using real IDs and names have increased...
Massive spike in banking fraud in South Africa
Combined gross fraud losses on South African-issued bank cards soared by 18% in 2018, compared to the previous year, and totalled an astronomical R873.4-million, industry body Sabric said on Wednesday.
Sabric, or the...
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Transport Month panel discussion tackles Cape Town’s congestion conundrum
The City’s Urban Mobility Directorate kicked off Transport Month with a panel discussion around Cape Town’s congestion conundrum at the Concourse in the Civic...