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% increase in business fraud compared to the previous year. “These scams include  phishing, investment, romance and advance fee scams. Consumers are approached through channels  including WhatsApp, email, and SMS, making it difficult to identify the individuals and organisations  behind these scams,” says Retief. 

Major wins 

Despite the rising fraud statistics, the SAFPS has achieved significant savings for its Members through  its anti-fraud efforts. “The SAFPS Members reported R5.04 billion in savings in 2024, a massive  achievement, contributing to cumulative savings of R30.63 billion since 2014,” says Retief. 

He notes that public awareness of SAFPS products, which offer protection against fraud, is increasing.  This is evidenced by a 4% rise in the number of consumers who applied for Protective Registration. Protective Registration is a FREE service protecting individuals against future fraud. Consumers apply  for this service, and the SAFPS alerts its Members to take additional care when dealing with that 

individual’s details. It provides an added layer of protection and peace of mind regardless of whether  the applicant’s identity has been compromised. 

“As we continue to navigate this ever evolving and complicated landscape, it’s important to  acknowledge the strides we have made and the vital role the work we do plays in our country. This  last year has been a true testament to the collective strength of the SAFPS and our Members, who  tirelessly work together to prevent future fraud and the ongoing fight in the war on scams,” says  Retief. 

Hard-hitting speakers 

The 2025 Fraud Summit will feature insights from several high-level local and international speakers  who will discuss the global fraud landscape. SAFPS Head of Operations, Roy Retief, will set the scene  by discussing the South African risk landscape based on the 2024 SAFPS Annual Report. Mark  Courtney, Chief Product Officer of CIFAS, will explain how the UK is using a multi-layered approach to  combat fraud. While, Amritha Reddy, Senior Director of Product at TransUnion, will conclude the first  day with a discussion on future trends in financial crime. 

The second day will begin with a presentation by Ultrich Kruger, a criminal Investigator at the  Department of Homeland Security, United States Secret Service, who will explore the realities of AI  and deep fakes in the cyber threat era. A highlight of the day will be a panel discussion on insurance  fraud, featuring insights from Sanlam, ABSA, and Discovery Insure, chaired by ICB CEO Garth de Klerk.  This will be followed by another engaging panel discussion on fraud prevention technologies, chaired  by Zaakir Mohammed from EY, and featuring speakers from Capitec Group, Standard Bank, COMRiC  and LexisNexis Risk Solutions 

An important platform 

Platforms like the SAFPS International Fraud Summit are crucial for sharing information and aligning  strategies to combat the growing risk of fraud. These gatherings enable global fraud custodians to  identify and address key risk factors contributing to the ever-increasing fraud landscape. 

“We are very excited to host the 2025 International Fraud Summit,” says Retief. “We will continue  collaborating with our members and law enforcement to make a meaningful impact in the fight against  fraud. Working with international stakeholders allows us to share experiences and gain insights into  future trends affecting South Africa, making the Summit an exciting and valuable gathering.”