Tag: Experian South Africa

Taking control of your financial health through effective budgeting can be beneficial and liberating. By creating a budget and smartly managing your expenses, you can ensure that your hard-earned money lasts longer and works towards securing a prosperous future.

If you have taken out a loan or a store account, or have a credit card or a home loan, you have a credit record. A great way is to put your finances in order, especially after the costly generosity of the festive silly season – not to mention Black Friday. 

In mid-August 2020, approximately 23.4 million South Africans' personal information was compromised. The data breach was announced by Experian South Africa on 19 August 2020. Correctly, Experian issued a notification to the Information Regulator, but is this enough? Experian stated that 'no consumer credit or consumer financial information was obtained', but what information was then the subject of the breach?

Experian - a consumer, business and credit information services agency – has experienced a breach of data which has exposed some personal information of as many as 24 million South Africans and 793,749 business entities to a suspected fraudster.

Boardroom efforts to make customer experience a priority is being hampered by rising costs, retention and bad debt. South African firms continue to be challenged by rising costs of customer acquisition, retention, fraud and bad debt while striving for innovation through leveraging data and AI techniques.

The growth in identity theft highlights the need for early detection. Statistics from the South African Fraud Prevention Service (SAFPS) show that identity theft has increased by 200% over the past six years. This has raised the need for greater education around this crime, especially when it comes to early detection.