Time for business to share data
AFRICA NOW HAS another industry-specific silo of fraud-related data along with industries in FMCG, health and finance. Some years back Business Against Crime attempted to develop an industry alignment forum so that fraud data could be shared throughout commerce and industry.
After two years, the Southern African Fraud Prevention Service (SAFPS) left the forum, as little was being achieved except talk. Over the past five or so years SAFPS has also been in discussion with various industry sectors, including the short-term insurance and health industries, in an attempt to create
some form of shared fraud data management agreements – but to no avail. Although the concept is verbally espoused, the practicalities seem to fall foul of personal egos and hidden agendas.
Since 1 January this year members of SAFPS have reported fraud savings in excess of R1,148bn, with more than 9 600 filings having been made to the SAFPS system. Surely it’s time for South African business to come together, put aside personal interests and egos and agree to share relevant fraud data?
Not only would a clearer picture of fraud be available in this country but by sharing data business would be able to easily identify fraud syndicates that operate in all industry sectors and be able to put a stop – or at least reduce – this blight on our society.
Executive Director Southern African Fraud Prevention Service