Tag: fraud

The Skills Development component of B-BBEE scorecards has created a large and robust training industry. However, while many organisations deliver quality learnerships and skills programmes, an alarming number exploit the system and the corporate sponsors of learnerships. The consequences extend far beyond financial loss.

Consumers in shops all around the country expect payments to work as they should every time. They demand instant transactions, often blissfully unaware of the complexity that lies beneath. That is the job of a good payments service provider. A good payment provider keeps the technical complexity invisible while delivering service inside the 130-millisecond benchmark.

If something strange seems to be happening in your payroll and HR department, and your company’s profits are vanishing into thin air, chances are you have ghost employees in payroll draining your bottom line. From my experience, the presence of ghost employees on a company’s payroll system ranks among the most difficult types of payroll fraud to detect.

Each year, medical aid becomes more expensive and slips further out of reach for many South Africans. Annual premium increases continue to outpace inflation far. As a result, staying covered has become an uphill battle. Many consumers are questioning whether their medical aid is worth the cost. Others are being forced to downgrade or abandon it entirely. If you're feeling the financial squeeze, you are not alone.

In a tightening economy, the South African Revenue Service (SARS) is under increasing pressure to collect every cent it can. This effort is critical to shoring up the South African fiscus. While many compliant businesses play by the rules, it is becoming clear that some large corporations are pushing the envelope too far. Some do so unintentionally, but others proceed with eyes wide open.

In response to an increasingly volatile economic landscape, South African businesses are turning to trade credit insurance. They use it as a strategic tool to safeguard their operations against the risks of non-payment and insolvency. This surge in uptake of trade credit insurance reflects a growing recognition of its critical role.

Payment gateways play a critical role in transaction processing. The transaction messages are processed through them while they broker the approval of the transactions from the source (generally customer or merchant) to operators (generally issuer).

Read our exclusive cover story titled Digital payments - securing the gateways by Dean Friedman, Partner and Rupesh Vashist, Associate Director, KPMG Southern Africa, plus a host of other topical management articles written by professionals, consultants and academics.

In a world where artificial intelligence (AI) is increasingly being weaponised by cybercriminals, the question of whether we can effectively combat AI threats with more AI is not just a technical inquiry, but a pressing global concern. AI-generated cyberattacks, such as deepfake technology and automated hacking attempts, have created a cybersecurity arms race.

The widespread adoption of digital wallets is transforming the global financial landscape. Africa leads this transformation with rapid growth in usage. A recent Juniper Research study reveals that over two-thirds of the global population will own a digital wallet by 2029. This shift represents a major departure from traditional payment methods. Africa showcases this trend more than any other region.