LAW: Fraud and Identity Theft Accounts for R720 Million
Recent Gauteng Business News
Southern African Fraud Prevention Service members recorded identity crime and application fraud amounting to R720 million.
This figure is lower than the R1.3 billion reported in 2008. Pat Cunningham, Executive Director of Southern African Fraud Prevention Service (SAFPS) is of the opinion that the lower figure is as a result of both the economic crisis during 2009, with the major financial institutions tightening up on credit granting and the National Credit Act also playing a part.
However, the SAFPS does indicate that more than 11700 people were filed on their systems during 2009 for attempted fraud which shows a slight increase of 782 filings over the 2008 figure. This brings the total number of people filed with SAFPS for fraudulent application and identity crime to more than 67 000.
The SAFPS data also shows that the use of false documentation through the presentation of such things as false payslips, false bank statements and drivers licences was the highest number of filings amounting to 7 880 reports.
The number of people who applied for the SAFPS protection service because they had been impersonated amounted to 1382.
A new service was introduced in late 2009 for the reporting of employee fraud amongst SAFPS members. This service is still in its infancy and it will be some time before critical mass shows meaningful data.
SAFPS can be contacted on (011) 869 6460 or e-mail email@example.com or visit the website www.safps.org.za.
· The SAFPS Help-Line can be reached on 0860 101 248.
· For Protective Registration, e-mail firstname.lastname@example.org.
To report a suspect fraud case, e-mail email@example.com. For Shamwari and general enquiries firstname.lastname@example.org
Business News Sector Tags: Law|