In the battle against fraud, Sameer Kumandan, managing director of SearchWorks, a data aggregation platform, underscores the pivotal role of robust Know Your Customer (KYC) and Know Your Business (KYB) checks.
There has been an increase in complaints about deceptive practices wherein fraudsters employ the details of celebrities to persuade individuals to invest.
The financial services group is aware of another client who fell victim to the former employee’s alleged misconduct.
Sales fraud, where intermediaries write-up policies without clients’ knowledge to earn commission, constituted 57% of all fraud cases in 2022.
The FAIS Ombud alerts consumers to the strategies fraudsters are using to trick consumers into signing up for policies.
SCA orders a policyholder to repay Discovery Insure the entire settlement, not only the amount related to the fraudulent part of the claim.
The impersonator pretends to have information about an investigation … and solicits a ‘settlement payment’.
FSCA issues a spate of warnings about scammers impersonating authorised FSPs and offering unrealistic returns.
Complaints about current accounts and digital banking were the two largest categories of cases opened with the ombudsman.
Moonstone will check the authenticity of a certificate if provided with written consent.
PSG contended its liability for loss could not include instances where the client’s computer was hacked because of his negligence.
Hacker gets away with R800 000 after duping PSG Wealth employees twice within 10 days.
Provides guidelines on how to avoid being caught out.
A Toyota Land Cruiser valued at more than R1.2 million found its way into the hands of the general of a rebel army in the Democratic Republic of the Congo (DRC) after a […]
Life insurers’ fraud investigations have turned up more evidence of deathly get-rich schemes in which syndicates take out funeral insurance on victims they subsequently kill in order to submit a claim. Syndicates, particularly […]
An employer does not have to prove fraud, dishonesty or theft to a retirement fund, and a fund is not expected to make a judgment about whether the employer has, in fact, proved […]
You’re most at risk of becoming a victim of digital banking fraud if you use a mobile device – but the risks are much lower if you use a banking app. And online […]
Notifications
