​​​​​​​​​

 Case Studies

Combating financial crime in South Africa

This section aims to raise awareness of financial crimes committed in South Africa. It is compiled by the FIC, which fights crime by monitoring the proceeds of crime and combats money laundering and financing of terrorism.

Financial crime affects every South African, directly or indirectly, by robbing individual resources or draining the funds available for the country’s development. By knowing what to look out for, South Africans can avoid falling victim to common scams.

These case studies focus on a selection of prevalent crimes, defining each scheme, explaining how it works and how to avoid being a victim. Please use the search function below to learn more.

notes20 remittance scam What is it … The use of moneygrams to transfer the proceeds of crime across national borders … how it works Moneygrams – person-to-person money transfers – are a fast …
Date: 8/15/2016 Size: 77KB

notes13 account hijacking What is it … An account hijacker uses another person’s bank account … how it works A person, often unemployed or a low-income earner, is paid to open a bank account …
Date: 8/15/2016 Size: 152KB

from their trust accounts for normal business expenses in contravention of …  Transfers from attorneys’ trust accounts into personal accounts …  Absence of a business account to service the …
Date: 5/14/2018 Size: 145KB

fauna and flora by criminal elements to enrich … in the process as well as the … smuggling of ivory, abalone, endangered species and rhino horns … Specific natural resources are targeted by …
Date: 5/14/2018 Size: 146KB

notes10 pyramid scheme What is it … A form of fraud that promises participants payment or services for recruiting others into what is presented as a legitimate business …
Date: 8/15/2016 Size: 55KB

notes30 drug mules What is it … A “mule” is another name for a courier who physically smuggles illegal items across a national border … how it works Drug mules are hired to reduce the risk …
Date: 8/15/2016 Size: 56KB

explained in South African legislation, deals with dishonest or fraudulent conduct by … those in power, typically involving bribery for some type of gain … The FIC was part of a multiagency …
Date: 5/14/2018 Size: 145KB

 Suspicious credits outside of normal salary credits …  High value vehicles and immovable property …  Use of third party accounts, often family members … The FIC established that the subject …
Date: 5/14/2018 Size: 146KB

notes26 use of front companies What is it … Front companies are used to conceal the proceeds of illicit activities … how it works Criminals set up or use businesses to launder money …
Date: 8/15/2016 Size: 52KB

Precious metal smuggling can take the form of either trading in illegally mined precious metals or … obtaining the mined metals illegally and then selling it, with …
Date: 5/14/2018 Size: 146KB