Tag: fraud

Is cash truly dead? Fintech innovations and digital payment solutions have risen rapidly, prompting many to think so. Yet, cash remains alive. It is still the preferred way to transact for millions, especially in Africa.

South Africa relies on a single machine to produce driving license cards, which is downright ludicrous. In November 2021, an electrical fault caused the machine to break down. Repairs took two months, increasing the license backlog by over a million.

The Companies and Intellectual Property Commission (CIPC) has introduced new obligations for reporting beneficial ownership information. The deadlines are tied to each company’s date of inception. Businesses must declare their beneficial owners within 30 days of their anniversary date, similar to annual return filings.

FICA Compliance and Penalties are becoming critical considerations for South African businesses, as non-compliance can lead to severe financial and reputational consequences.

Con artists and scammers are becoming more skilled at manipulating bank details and private information from consumers. It is important to understand the risks and recognise the warning signs. Fraud and scam statistics in South Africa are alarming.

Consumers are familiar with phishing emails, fraudulent SMS messages and social media scams. However, the scale and complexity of cyberattacks on critical sectors far exceed these relatively simple threats. Entire industries and governmental bodies face increasingly sophisticated attacks. These attacks can cripple essential services, cause significant economic damage and compromise sensitive data on a massive scale.

BBanking goes far deeper than managing financial transactions. Organisational, compliance and governance layers are demanding and complex. From merchants to customer onboarding, relationship banking and internal agreements, these layers require effective management. Workflow management must also be handled securely and with certainty. This ensures both the bank and its customers are protected.

Business travel fuels growth for many South African companies, driving expansion through new connections, sealing deals, and unlocking opportunities in diverse markets. However, data reveals a significant cost associated with these trips. From August to October 2023, companies typically spent R15,138 per domestic trip and R34,943 per international business travel. These high costs highlight the critical need for companies to ensure their employees are safeguarded against cyber threats.

Like many companies, we grapple with the ethics of using Artificial Intelligence (AI) in our work, which for us is creating brilliant campaigns for our clients. Over the past year or so, since AI really made itself felt, we’ve hashed and rehashed so many questions, especially around content generation: can we use AI to produce copy for our clients? Should we? If so, how should we? What should we tell them about using AI, if anything? And why should they pay us to use AI when they can do it themselves – for free?

No matter which industry your business finds itself in, advertising forms a crucial part of any company’s go-to-market strategy to help achieve a host of business goals - from influencing consumer behaviour or driving sales and revenue growth, to gaining a competitive advantage and expanding into new markets.