Fraud remains a significant challenge in South Africa, affecting businesses, financial institutions, and individuals alike. As fraudulent activities become more sophisticated, companies rely on fraud and investigation services to detect, prevent, and mitigate risks. Screening companies play a crucial role in this ecosystem by supplying verified data to their clients, enabling informed decisions.

Why Is Access to Fraud and Investigation Data Needed?

• Fraud Prevention – Detect and prevent fraud before financial or reputational damage occurs.
• Regulatory Compliance – Conduct due diligence as required by law.
• Risk Management – Identify high-risk individuals or entities.
• Efficient Decision-Making – Vet clients, suppliers, and employees quickly.
• Enhanced Security and Trust – Build trust and ensure safer operations.

The Role of Screening Companies in Providing Fraud Data

• Criminal records databases to check for prior fraud convictions.
• Credit and financial history reports to assess risk.
• Watchlists and sanctions checks for compliance with AML laws.
• Employment and qualification verification.
• Behavioral profiling based on red flags and patterns.

Risks of Not Supplying Fraud Data

• Increased Fraud & Losses – Fraudulent entities can cause serious damage.
• Regulatory Breach – Non-compliance with laws like FICA, POPIA.
• Reputational Harm – Public trust can erode quickly after fraud exposure.
• Operational Disruption – Supply chain and internal fraud risks rise.
• Legal Liability – Lawsuits, fines, or business license revocation possible.