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Quality data can reduce R10billion fraudulent insurance claims

28 July 2014

The heavy burden of insurance fraud in South Africa – currently estimated at costing the industry around R10billion annually - could be reduced significantly if the quality of data improved.

KPMG: Payment fraud on the rise

02 July 2014

KPMG has noted a new trend in relation to business fraud which poses a serious risk of significant financial loss.

A new level of security for a new level of fraud

26 May 2014

With internet and technology creating an ever-interconnected world, the amount of information businesses need to manage to remain secure is staggering.

Are evolving tactics necessary to combat insurance fraud?

26 May 2014

Fraud is the deliberate misrepresentation of facts in order for one person to gain financially at the expense of government, an organisation, or another individual. If we bare this in mind, then the insurance industry is rife with fraudulent activities, both from policyholders and from certain intermediaries who try to defraud policyholders.

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Question

The strongest deterrent against FSP compliance missteps is or should be:

Answer

A criminal conviction Debarment Fine or penalty Any of the above can work

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