Fraud in South Africa is active in many different businesses and industries. There have been countless reports from people in the general public and business partners that have been tricked into unforeseen scams across the country.
According to the South African crime website Report a crime.com, there are numerous entries every day from people and organisations reporting fraudulent crimes or kindly warning other people of criminals.
In July 2014, a man reported an EFT banking fraud, while another man complained about money laundering crime on the advertising website OLX. The advertising website attracts a lot of people from general population to business operations.
On the crime report website, other cases included bogus security companies offering services they did not render, fake payments and fake bank loans. One complainant reported a motorcyclist who cloned his registration number and commits traffic offences and e-toll violations in his name.
Whether it is fraud committed on individuals or on companies, it is continuously growing in South Africa. When a company is interested in doing business with another organisation or simply hire an individual in their company, it is vital to do a background check on the individual or due diligence on the organisation.
Background checks and due diligence will give you the upper hand in understanding who you are getting in to business with, this way, you will save money and prevent any loss to your company.
At Zero Foundation we provide actionable and timely intelligence on any company and any individual anywhere in Africa. Contact us today to find out how we can save you from associating your company’s name with potential criminals. Fill in our form today to request information on our Background intelligence services as well as our Enhanced due diligence services today!