Protecting your business is important. There are many issues that can affect it. These can be theft, natural disaster, and fraud. This raises the question: Does South Africa have fraud prevention services that can protect organisations?
Fraud can be very damaging to your business. It can lead to your business suffering financial and reputational losses. To help you keep safe, there is an organisation called the South African Fraud Prevention Service (SAFPS).
Any fraud committed within an enterprise can be categorised as corporate fraud. Corporate fraud is illegal activities (activities that are done in a dishonest or unethical manner) done by an individual or company.
The SAFPS is here to help businesses be safe in the case of fraud. The organisation seeks to educate businesses and consumers on the dangers of fraud.
In this article, we look at the SAFPS, what it does and how it can help you, your business and your customers.
What Is The SAFPS?
The SAFPS is a non-profit organisation that aims to improve vigilance with regard to fraud, financial crime and identity theft. The organisation educates businesses and consumers about fraud and assists them with protecting themselves.
The organisation has members which are brands it has collaborated with. Some of the brands include FNB, Standard Bank, African Bank, Mercedes-Benz, BMW Group financial services, MTN, Mr Price and Investec amongst many others.
What Does The SAFPS Do?
The South African Fraud Prevention Service has many things that it does in partnership with brands, enterprises and consumers. On its website, the SAFPS says its duties include:
Striving to combat fraud in partnership with some of the largest and most trusted brands in Africa.
Maintaining a strong fraud database to assist its members in detecting and preventing fraudulent activity.
Protecting consumers against identity theft and impersonation.
Providing protective registration for all consumers who have experienced identity fraud, ID/passport theft or have had their identity compromised.
The organisation designs, develops and promotes solutions, systems and tools that assist in combating fraud and financial crime and protecting consumers.
SAFPS Services
The SAFPS offers a number of services for businesses and consumers.
Business Services
Application fraud:
- The SAFPS assess applications against its database for potential identity theft/fraud risks.
- It determines if the applicant has previously fabricated documentation.
- Determines if the applicant is impersonating or assuming the identity of someone else.
Note: If you are found guilty of this type of fraud, it may cause financial and reputational loss to the affected parties.
Employee application fraud:
- The SAFPS checks if there is a fraudulent employee database.
- The SAFPS blocks any professional fraudsters.
Biometric Services
Biometrics are aimed at consumer protection and business customer validation and verification. The biometric tools include:
- Voice biometrics.
- Fingerprint biometrics.
- Facial biometrics.
Consumer Services
To protect consumers, the SAFPS provides the following services:
- Protective registration.
- Fraud victim registration.
- SAFPS provides citizens with fraud security.
- Provides consumers with education on fraud and awareness.
Apply for Protective Registration from the South African Fraud Prevention Service
Applying for protection from the SAFPS is not only for those wanting to combat fraud. It also helps anyone who has recently lost their ID or passport, or if it was recently stolen. And for victims of identity fraud.
By registering with the South African Fraud Prevention Service, the organisation will enter your details into its database to inform its members that your identity has been compromised. This will ensure that the members take extra care when confirming your identity.
The SAFPS recommends that you scan or photocopy your ID book and passport and keep the copies safe. Also, ensure you keep the copies away from the originals. If your ID or passport has been lost or stolen call the SAFPS on (+27)11 867 2234 or e-mail protection@safps.org.za.
If you have been a victim of fraud and accounts and loans have been taken out in your name, the SAFPS recommends that you contact the credit provider or debt collector and notify them of the fraud.
You will need to provide information that proves that you did not enter into the agreement yourself. If the credit provider is a member of the SAFPS, a victim of impersonation filing and/or protective registration will be loaded onto the SAFPS database on your behalf.
Note: If the credit provider is not a member of the SAFPS, the organisation will file a victim filing for you. Additionally, you must also report the fraud to the South African Police Services (SAPS) not just the SAFPS.
Once it has been established that you are a victim of fraud, the credit provider will issue a letter confirming that you are a victim of impersonation. Following that, you must apply for protective registration.
How to Register for Protective Registration
By applying to the SAFPS, you can receive protection against any possible fraud. Here is how to apply for protective registration.
Solution 1: You can apply for protection for free online.
Solution 2: For anyone who wants to apply via e-mail, simply download the PR application form, complete it and send it to protection@safps.org.za. With your application, include a certified copy of your ID, or application for a new ID (if lost or stolen) and a copy of your proof of address.
Solution 3: If you want a SAFPS consultant to work you through the application process, you can complete the web form and the agent will call you back.
As a business owner and consumer, it’s important to protect yourself from fraud and any identity fraud. The SAFPS is there to help protect you and registration is free. It’s better to register before something happens (prevention is better than cure) especially if you are a business owner with a lot to lose.
For more information on how to protect your business, find out more in our article about the negative impact of crime on business.
