Johannesburg, May 15, 2025: The rise of technology has emboldened criminal syndicates, leading to a significant increase in global fraud. South Africa, being one of the most targeted countries, faces daily challenges with high levels of fraud, making it a critical player in this landscape. “The growth of fraud globally and locally is very concerning. Law enforcement officials face an uphill battle in addressing this risk landscape,” says Roy Retief, Head of Operations of the Southern African Fraud Prevention Service (SAFPS). “It is essential to address these issues at industry gatherings like the SAFPS International Fraud Summit.” An increase in key statistics A key highlight of the SAFPS International Fraud Summit is the release of the 2024 SAFPS Annual Report, offering an overview of the fraud landscape. According to the report, which includes SAFPS fraud data from the 2024 calendar year, total active fraud listings increased by 26%, and total active victim of impersonation listings increased by 12% compared with the previous 12-month period (January 2023 to December 2023). Despite a 4% decrease in forged documents from 2023, they still constitute a significant portion of fraudulent activities reported to SAFPS. These documents are used not only to impersonate legitimate consumers but also by actual consumers to secure credit from SAFPS Member Organisations. “This indicates the tough economic climate facing consumers. Credit providers are encountering increased risks when verifying documents and providing credit to legitimate applicants,” says Retief. He adds that forged documents are often used to inflate a consumer’s reported income, enabling them to pass affordability checks for higher credit limits. Typically, multiple forged documents are involved, including bank statements, employment confirmations, and proof of income. The rise in technology-related risks has led to a significant increase in business fraud. SAFPS statistics indicate a 25% …
Growing Fraud Landscape to Be Addressed at SAFPS Fraud Summit
South Africans have become accustomed to the narrative that fraud surrounds them. The fraud landscape is growing significantly as the country attempts to break its bonds of low economic growth. “The public is often unaware of how sophisticated criminals are and how easy it is to become a victim of fraud or a scam," says Southern African Fraud Prevention Service (SAFPS) Head of Operations, Roy Retief. Digital fraud, scams, and other significant risks will take centre stage at the Annual SAFPS International Fraud Summit, which is being held in Sandton on 15 and 16 May. A soft target There are plenty of factors working in South Africa's favour. Along with its diversity acclaim, internet connectivity in South Africa is growing rapidly and is being fully adopted by a growing youth population. According to the 2024 Interpol African Cyberthreat Assessment Report (which reflects on 2023 digital trends), the INTERPOL member countries identified ransomware and digital extortion as one of the most serious cyber threats faced by the African continent. Such attacks are of particular concern due to their high financial impact, their ability to severely disrupt critical infrastructure and essential services, and the harm they can cause to the organisations and individuals affected. During a single week in February 2023, INTERPOL's private partner Kaspersky detected over three hundred cases of ransomware in South Africa, which illustrates the increasing frequencyof attacks. The financial impact of attacks also appears to be on the rise: according to IBM, the average ransomware attack cost in 2023 was $5.13 million, a 13% increase over 2022. Looking at SAFPS 2024 statistics One of the highlights of the 2025 Fraud Summit will be the presentation of the SAFPS Annual Report, which will contain the highly anticipated 2024 fraud statistics. The SAFPS has seen an increase in fraud listings, victim listings and protective registrations. Retief adds that 2024 trends (in …
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The Imperative for Expanding Private Tertiary Education
After 30 years of growing our democracy, there is plenty of expectation that South Africa needs to reclaim its position as the continent's largest economy. While there are signs that the South African economy has turned a corner and that economic growth of above 1,5% (and possibly higher) is within our grasp, more can be done. This will largely depend on South Africa's primary, secondary, and tertiary education sectors, as well as the country's ability to produce highly qualified professionals who will drive economic growth. However, the South African tertiary education sector is at a crossroads as public universities face significant challenges and students demand access to tertiary education. “The burgeoning demand for tertiary education among young people starkly contrasts with the limited availability of seats in public institutions, underscoring the urgent need to bolster private higher education as a viable alternative. This is a strategic imperative we should all work towards," says Professor Zaheer Hamid, MANCOSA Director and Chief Academic Officer. A challenging landscape Prof Hamid points out that recent data from Statistics South Africa reveals a commendable increase in access to quality education over the past decades. In 1996, only 6.6% of South Africans aged 25 and older had achieved a qualification following high school graduation. By 2022, this figure had nearly doubled to 12.7%. Similarly, high school graduates rose from 13.8% in 1996 to 35.4% in 2022. "While these statistics reflect progress, they also highlight a significant portion of the population still lacking access to opportunities to obtain a tertiary qualification," says Prof Hamid. The National Development Plan (NDP) ambitiously targets a tertiary education participation rate of 30% by 2030. However, current trajectories suggest that this goal may remain elusive without substantial interventions. Comparatively, South Africa's tertiary education participation lags behind …
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Head for the Clarens Art Fair on May 1
Johannesburg, February 08, 2025: The Clarens Arts Festival is on the horizon again, shining bright with big names and intriguing workshops, taking place from May 1 - 4. One of South Africa’s most beloved actors, Ian Roberts will take to the stage to talk about his memoir Nomad Heart and will also raise the roof as part of the fabulous Radio Kalahari Orkes. Clarens’ own music star Josh Mokoena comes home with his Quartet to showcase his jazzy soul, and popular singer André Schwartz is set to draw the crowds. Two superb dramatic performances will be staged: the award-winning musical Vincent , starring Daniel Anderson accompanied by Paul Ferreira, which delves into Van Gogh’s life; and, to commemorate the great writer Breyten Breytenbach, Laurinda Hofmeyr, Koos van der Merwe and Bibi Slippers will celebrate his life and work. Tickets are already selling well for raconteur and Comrades king Bruce Fordyce’s event Tales From The Road, (and he’ll be leading the Clarens Parkrun on Saturday!) while a raconteur of a different sort invites you to lunch. Frik de Jager will take you on a fascinating journey around the world in stories and recipes. Superstar Aussie author Tony Park will share secrets of his bestselling books and his love for South African wildlife, while superstar actress and writer Susan Coetzer will discuss her new book Haas en Harriët and treat you with bubbles and cake. If it’s expert opinions that appeal to you, the festival is thrilled to be featuring top journalists Karyn Maughan, Pieter du Toit and TJ Strydom who will be discussing the state of the nation with Piet Croucamp. Of course, it wouldn't be the Clarens festival without dinosaurs! Our resident scientific experts Gideon Groenewald and Rodney Moffet will be talking to Paddy Gordon, manager of the Golden Gate Highlands National Park about the region’s rich fossils and indigenous lore. Out on the village square, a blaze of art and sculpture. Close to 40 visual artists …
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South Africa’s Digital Future Hindered by Rising Cyber Threats
Johannesburg, March 18, 2025: South Africa has always held the acclaim of being one of the continent's largest economies and is still the most diversified economy in Africa. With the eyes of the world focused on South Africa in 2025 – owing to its G20 presidency – there are significant expectations that South Africa will resolve its economic issues and position itself as a digital economy from which the world can learn lessons. However, MANCOSA points out that this expectation may be more challenging to achieve than many believe. "It is true that South Africa is a significant role player in digital connectivity on the continent. However, we are one of the most targeted countries in the world in terms of cybercrime, and while we have developed a legal framework that can deal with cyber risks, is this framework agile enough to pivot in line with growing trends?" asks Trisha Govender, Manager: MANCOSA School of Information and Digital Technology (SIDT). Ransomware and digital extortion on the rise in Africa According to the 2024 Interpol African Cyberthreat Assessment Report (which reflects on 2023 digital trends), the INTERPOL member countries identified ransomware and digital extortion as one of the most serious cyber threats faced by the African continent. Such attacks are of particular concern due to their high financial impact, their ability to severely disrupt critical infrastructure and essential services, and the harm they can cause to the organisations and individuals affected. The volume, frequency, and impact of ransomware attacks continue to grow in Africa. Research from cyber security firm Check Point suggests that on average, one out of every 15 organisations in Africa experienced a ransomware attempt every week during the first quarter of 2023. This is even higher than the global weekly average, which stood at about 1 in every 31 organisations. During a single week in February 2023, INTERPOL private partner Kaspersky detected over 300 …
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The GNU Faces Precarious Future as Parties Can’t Get Along
Johannesburg, February 08, 2025: South Africa's Government of National Unity (GNU) hit a significant speed bump on 19 February when Finance Minister Enoch Godongwana was advised to postpone the presentation of the National Budget until 12 March due to consultation challenges with other parties within the GNU. This highlights the intricacies of power-sharing governance structures, and the fine line political parties have to negotiate to achieve an objective. "The outlook for the GNU is precarious. While the Public Finance Management Act (Act 1, 1999) (the PFMA) accommodates budget delays, the recurring deadlocks over fiscal policies — especially the disagreements over VAT and other tax measures — signals potential long-term challenges for the coalition," warns Dr Uduak Johnson: Academic Programme Leader for the Master of Public Administration Programme at the MANCOSA School of Public Administration adding that we may see plenty more fireworks over the next three years. Setting aside differences to get along Dr Johnson points out that the delay in the 2025 National Budget Speech, while controversial, is allowed under section 27 of the PFMA. However, this provision highlights the risk of destabilising governance and public service delivery, as seen in the market reaction with a sell-off of local assets and rising bond yields. "The apparent lack of power-sharing agreements and institutional safeguards has worsened these challenges, emphasising the need for consistent communication and conflict resolution. Legal provisions alone are insufficient for effective governance. To address this, the GNU must ensure inclusive decision-making, foster a culture of compromise, and encourage leaders to prioritise national interests over party politics. Focusing on shared goals, such as economic growth and social development, will help avoid divisive ideological issues and strengthen governance," says Dr Johnson. While a new dawn for South African politics is possible, …
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Making a Significant Difference in the Lives of South Africans
Johannesburg, March 4, 2025: The amalgamation of the Ombudsman for Banking Services (OBS), the Credit Ombud (CO), the Ombudsman for Long-Term Insurance (OLTI), and the Ombudsman for Short-Term Insurance (OSTI) into the National Financial Ombud Scheme (NFO) marked a significant moment for the financial services sector in South Africa as consumers and companies within the financial services sector gained access to a single body that was able to address all complaints and disputes within the financial sector, previously dealt with by the separate schemes, fairly and equitably. Reflecting on the establishment of the NFO on its first anniversary, Reana Steyn, NFO Head Ombud, says that the NFO has made a significant impact since its amalgamation one year ago. "We have had an important impact on the lives of thousands of South Africans by offering a vital safety net and recourse mechanism following any form of maladministration, disputes with the financial service providers or a significant financial loss. Few realise how important it is to have access to this kind of assistance until they become a victim of fraud, or suffer a loss," says Steyn. Significant returns The primary purpose of an Ombud such as the NFO is to settle disputes between consumers and companies. This is particularly important within the South African financial sector as many consumers rely on the financial sector as a safety net to insure their most valuable assets, to purchase those assets, or to fund other living expenses through loans or store accounts. Life insurance, funeral cover and disability cover also play an extremely important role in protecting the livelihood of many. However, interactions between parties often turn into disputes, especially at claims stage or when the parties disagree over the amounts due, which is when the NFO steps in to make a real difference. Since its inception on 1 March 2024, the NFO has dealt with 40 859 cases. During this period, the total amount …
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Economic Optimism Blossoms as South Africa Addresses Structural Challenges
Johannesburg, February, 19, 2025: After many years of sluggish economic growth, there is growing optimism that the South African economy will grow by 1,7% as the Government addresses the country's structural challenges. "While this is below the 2% targeted by the National Development Plan, this is welcoming news for South Africans who are desperate for economic growth that will see an end to issues such as the country's Unemployment Crisis and the current Cost of Living Crisis," says Dr Ridwaan Asmal, Manager: School of Accounting, Finance & Tax at MANCOSA. Major steps Raeesa Kader, a Senior Academic at the School of Accounting, Finance and Tax at MANCOSA, points out that the Energy Crisis, once a daily disruption (through loadshedding), has significantly eased, with Eskom managing the country's electricity grid effectively for the first time in close to a decade. "These efforts are a direct result of the Generation Recovery Plan, which has improved the reliability of the coal-fired fleet while slashing diesel costs by more than two-thirds compared to the previous year," says Kader. Eskom has reconnected Unit 2 of the Koeberg Nuclear Power Station in the Western Cape to the national grid following its Long-Term Operation (LTO) programme. This initiative extended the unit's lifespan by 20 years, including replacing steam generators, thorough inspections, and refuelling for safe and efficient performance. "Eskom also increased its maintenance activities during December 2024, taking advantage of reduced industrial demand. With maintenance efforts averaging 8,000 MW, the improved energy availability (surplus) positions South Africa for a stable, mostly load-shedding-free summer, benefiting businesses and households alike," says Kader. While a brief three-day period of Stage 3 load shedding occurred on 31 January 2025, it showcased Eskom's enhanced ability to swiftly resolve challenges. The utility's quick response resulted in a fully stabilised …
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The SAFPS urges the public to take social engineering seriously this Valentine’s Day
Valentine's Day is fast approaching, and the Southern African Fraud Prevention Service (SAFPS) urges South Africans to be cautious of the fact that social media and dating apps are a focus for fraudsters and scammers who are increasingly using romance scams and social engineering to perpetrate fraud and scams. Social engineering is the tactic of manipulating, influencing, or deceiving a victim in order to gain control over a computer system, or to steal personal and financial information. It uses psychological manipulation to trick users into making security mistakes or giving away sensitive information. "Technology is playing an increased role in the majority of the reported fraud instances," says Nazia Karrim, Head of Product Development at the SAFPS, "social engineering is becoming a reality of everyday life and has dire consequences. The public needs to be aware of this growing threat." Karrim adds that social engineering exploits a person’s trust to get access to confidential information or money. It is about using your behaviour and what you share with the world against you. A common tactic by scammers is to create a fake profile and then befriend potential victims, taking great interest in their social lives. International reports point out that, in Europe, up to 3% of the general population have fallen victim to romance scams. Finnish police data from 2020 recorded 210 scams with losses totalling €6.1 million. This rose to €10.4 million in 2023. "Similar statistics, in terms of percentage increases, are being replicated worldwide," warns Karrim. Common connection With the growth of technology and connectivity, engaging with friends via social platforms and online dating has become the norm. "While this is great, we cannot take everything and every person at face value," warns Karrim, "scammers have become very good at creating profiles modelled around the ideal criteria of a person that most people are looking for in a friend or …