B2B Central

fraud

11 Mar 2019

Discovery Health recovers R555m in fraud, waste and abuse savings for 2018

By Janice Roberts

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. “We also estimate that the ‘halo’ effect of our extensive fraud, waste and abuse-control activities has prevented additional fraud, waste and abuse to the value of approximately R5.1 billion...
22 Feb 2019

FNB cracks down on rogue debit order fraud

By Janice Roberts

FNB has detected abnormally high volumes and disputes of suspicious debit orders with descriptors Procall and Mzansi in December 2018 and January 2019.
02 Aug 2018

How businesses can spot the set of conditions that enable fraud to occur 

By Janice Roberts

Economic crime is harming businesses at a staggering rate throughout the world. Digital innovation and technology has also given rise to new attack surfaces for economic criminals and fraudsters, with the rate of instances growing at exponential levels.
24 Apr 2018

Dishonest policyholders on the rise

By Janice Roberts

When you take out a short-term insurance policy, the responsibility lies with you to provide the insurer with all the necessary information so that it can correctly underwrite (assess and price) your risk. 
11 Apr 2018

Companies should be more proactive in fighting corruption

By Janice Roberts

Organisations are not immune to the devastating consequences of fraud and corruption. Nowadays, organisations are under threat from a host of risks including procurement fraud and cybercrime. Zaakir Mohamed, Director in the Dispute Resolution practice at Cliffe Dekker Hofmeyr (CDH), says that it is critical for organisations to fully understand the risks they face and...
09 Apr 2018

Fraudulent claims on the rise

By Janice Roberts

Tough times tend to elicit desperate behaviour from people. The slow economic growth, coupled with macroeconomic uncertainty, of the past few years have resulted in a marked increase in the amount of insurance fraud being committed in South Africa. According to the South African Insurance Association, local insurance fraud is in line with international trends...
28 Feb 2018

How to deal with employee fraud

By Janice Roberts

Employee fraud has risen sharply in recent years, and statistics show that instances of theft by employees are becoming increasingly severe. This according to Anton Meyer, Executive Head: Financial Lines at SHA, who explains that employee fraud impacts a significant number of South African companies, and has the potential to result in significant losses, driving...
27 Feb 2018

Reported economic crime in South Africa hits record levels

By Janice Roberts

Reported economic crime in South Africa hits record levels; cost and accountability concerns rising 77% of SA organisations have experienced economic crime; Fraud committed by consumers ranks as the second most reported crime in SA; CEO and board increasingly being held accountable for economic crime; Only 37% of respondents have conducted an anti-bribery/anti-corruption risk assessment;...
19 Jan 2018

Discovery Health recovers R568m in fraud savings for 2017

By Janice Roberts

In 2017 Discovery Health’s efforts to curb fraud in the healthcare system resulted in a significantR568m recovered on behalf of client schemes, compared to R405m in 2016,” says Discovery Health CEO, Dr Jonathan Broomberg. “We also estimate that the ‘halo’ effect of these fraud-control activities, in which health professionals and others contemplating fraud desist from...
07 Dec 2017

Signs there’s a fraudster in your company

By Janice Roberts

The typical South African company loses around 5% of its annual revenue to fraud. One of the main reasons for this is because predicting which employees are capable of committing major fraud against a company is more difficult than expected.
27 Nov 2017

Demand for criminal and educational background checks remains high

By Janice Roberts

Over the past year, there have been a number of news reports exposing candidates in high profile positions across the public and private sectors who have misrepresented their qualifications. With the economy, and as a result the job market, under pressure to perform, market demand for criminal and educational background checks remains constant – as...
11 Oct 2017

Fighting fraud in the healthcare industry

By Janice Roberts

Fraud, waste and abuse are some of the biggest contributors to escalating healthcare costs in South Africa. Curbing their impact remains a top priority for Bonitas Medical Fund, says its Principal Officer, Gerhard Van Emmenis. An advanced analytical software system, introduced by the Scheme in 2016, is already helping enhance the detection and prevention of...