Fraud Insight

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SAFPS Welcome to Southern African Fraud Prevention Service (SAFPS). We’re a Non-Profit Organisation focused on fraud prevention and leading the fight against fraud and financial crime.

3000-ghost-employees!!! How is this possible 😢😢

Prasa taking action against 3,000 ghost employees, says Mbalula The Passenger Rail Agency of South Africa is investigating how 3,000 unverified employees got onto its payroll.

The ICFP is looking for an administrative clerk to assist in debtor management for a period of 3 months. Experience with debtors and debtor reporting is a must.

Please send your CV to [email protected] or call Chris on 082 902 4667

Alleged cybercrime kingpin James Junior Aliyu, who was arrested for fraud and money laundering in Sandton, Johannesburg, will spend more time behind bars after his case was postponed on Tuesday.

SA has extradition documents from US for alleged cybercrime kingpin, court hears | News24

Part 2 of the Shrine scam 😢😢

Shrine Scam: 44 more people admit losing millions in pensions, savings and loans | W24

Shrine scam, do you know it?

‘I gave a Sandton man R1 million to get R7 million from his shrine, all I got was a box full of paper' | W24 'I lost R1 million in loaned cash to Tinder scammer. He gave me a box full of black paper in return'

Why Boardrooms Should See Fraud Prevention As A Competitive Advantage✔️✔️

Council Post: Why Boardrooms Should See Fraud Prevention As A Competitive Advantage If companies want to protect their brands, stand out from their rivals and, ultimately, drive business growth, they must start thinking about fraud in a different light.

Fraud “word” of week “Predator Fraudster”

Definition

✔️Predator fraudster has an intention to the committee the crime.

✔️The opportunity does not provoke him. he is the one who creates the opportunity for such an act.

Source:

Practical example

✔️ Mr Predator Fraudster (“PF”) owns luxurious houses and cars. Mr PF dates and preys on unsuspecting Call Centre Agents to provide him sensitive company data that would enable him to defraud the “targeted” companies. Mr PF does not shy away from buying expensive gifts for his targets.

✔️Mr PF receives sensitive data from his target which has the Finan staff members’ details, he then sends an e-mail to one of the Finance Department’s staff member where he pretends to be a legitimate supplier and request to change the supplier’s banking details & provides new banking details.

✔️ Finance staff member pays the money to the new bank account only to find out that the money was paid into a fraudulent bank account, and the supplier did not send the reques. Mr PF deceived the staff member.

Source:

🟡SOCIAL QUESTION🟡
As a business owner do you verify banking details before processing a payment?

As a business owner YOUR responsibility is NOT only to make money, it is to build a legacy not a charity or a trust fund for fraudsters & thieves therefore invest in the following measures:
✔️Segregation of duties
✔️Whistle blower facility
✔️Background checks
✔️Policies & procedures
✔️Fraud awareness
✔️Surprise audits