Tag: biometric data

Strengthening digital verification methods in financial services is essential to combat fraud, ensure regulatory compliance, and enhance customer trust in today's rapidly evolving digital landscape. Digital onboarding and real-time transactions are key to delivering a slick customer experience for financial services today. However, this open trading world has created gaps for financial criminals, including money launderers, terrorist financiers, and fraudsters, to exploit.

President Ramaphosa has promulgated the National Health Insurance (NHI) Act. The NHI, in its bill form, has been controversial since its introduction and has attracted significant critique from various stakeholders. It is therefore likely that the Act will be the subject of fierce litigation, sooner or later.

It is widely acknowledged that biometric technology is the most secure and accurate way of authenticating and verifying an individual. Biometrics comprise a set of technologies and processes used to recognise, authenticate, and identify people based on certain physical or behavioural characteristics.

As activity bands become better at collecting health data, life insurance is catching up. When someone first coined the phrase 'grudge purchase', the description was probably most apt for insurance, of any kind: spending money 'just in case' of a damaging occurrence.

Payroll practitioners have access to vast amounts of personal, financial and health-related information of staff. The impact of European Data Protection Regulation (GDPR) and the Protection of Personal Information Bill falls on payroll in terms of action and accountability.

With security as the watchword at every turn and in practically every transaction in modern-day life, the unsettling reality remains that fraud, identity theft, and cybercrime are rapidly on the increase globally.