Tag Archives | Fraud


Collective effort required to curb fraud – Institutions, law agencies and public need to collaborate

Crime syndicates are opportunistic and continually adjust their tactics to take advantage of any opportunities to get their hands on bank client’s money be it via a cash robbery, stolen card data or solicited confidential information. This was one of the views of SABRIC, the South African Banking Risk Information Centre, with the release of […]

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Digital banking – Rise of fraud increases year on year

The SITEisfaction® report is an annual measure of customer satisfaction with digital banking services in South Africa. This year the consumer data indicates that Capitec and FNB are tied for first place as South Africa’s Best Digital Bank with a score of 79 each. These two banks have consistently been rated either 1st or 2nd […]

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Credit card fraud – Elderly the most vulnerable

The Ombudsman for Banking Services has seen an alarming spike in credit card fraud since January this year, in particular, aimed at clients over 60. In a recent interview the Banking Ombud’s, Reana Steyn said the number of credit card fraud complaints has risen from 12% to 19% in just three months. The latest statistics […]

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Fraud, waste and abuse in the healthcare system

– Discovery making great strides to curb the problem Discovery Health recently reported that they have invested substantially in fighting the scourge of healthcare fraud, waste and abuse. In 2018, Discovery Health’s efforts to curb fraud, waste and abuse in the healthcare system resulted in a substantial R555m recovered on behalf of client schemes. Efforts […]

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R E and Qualifications Fraud

In a holding statement published on Thursday, 15 June, the Financial Planning Institute (FPI) responded as follows to a media release by the FSB: Falsification of Regulatory Examination Results and Issuance of Fraudulent Certificates On behalf of Godfrey Nti, Chief Executive Officer, Financial Planning Institute (FPI) “Following the announcement made yesterday, by the Financial Services Board […]

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FIC Feed back

Nearly R1 billion in fraudulent claims thwarted

Claims fraud statistics for 2015 released in September by the Association for Savings and Investment South Africa (ASISA) reveal that while the number of cases of fraud and dishonesty uncovered almost halved (from 8 306 cases in 2014 to 4 381 in 201), the average value of these claims has risen substantially. Peter Dempsey, deputy CEO of […]

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Fraudulent medical aid claims

A recent article on the Health24 website had me reaching for heart pills I do not have. Discovery Health CEO, Dr Jonathan Broomberg, revealed that his company recovered R400 million on behalf of its client schemes. Discovery Health’s Forensics department deals with more than 3 000 forensic investigations per year. “Doctors were identified who were admitting patients, […]

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Fraudulent Medical claims amount to billions

Legalbrief Today reported on a statement by Discovery Health’s CEO, Dr Jonathan Broomberg, that fraud in the medical schemes industry is estimated to cost SA between R8.22bn and R43.2bn. One of the latest scams to hit Discovery comes from syndicates who target hospital cash plans. “Broomberg said doctors were admitting patients, who were not ill, […]

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Fraud knows no Boundaries

Consumers at the lower end of the market are often more vulnerable when it comes to being defrauded. The latest Ombud determination provides details of how the Reformed Christians for Truth Church became the victims of an “advisor” (himself a pastor) who was neither registered with the FSB, nor appointed as an agent of the […]

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