​​​​​​​​​

 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.

Cybercrime is the utilisation of technology to commit crime … Cyber criminals steal credit card details, online banking passwords and any other data that can compromise entities or …
Date: 5/14/2018 Size: 145KB

notes23 ponzi scheme What is it … it offers investors unusually high returns, but the payouts do not come from actual profits – the victim’s own money, or money paid by subsequent …
Date: 8/15/2016 Size: 56KB

recruiting people rather than selling products … The originator of the scheme usually makes an initial payment and thereafter others need to be recruited … The continued growth of the scheme …
Date: 5/14/2018 Size: 146KB

 Suspicious deposits of large amounts in small denomination notes …  Rapid cash in and out of funds …  Acquisition of high value assets (i.e. property, vehicles …
Date: 5/14/2018 Size: 42KB

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

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

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

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

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

a form of fraud that lead to monetary losses for the entity involved … duplicate payment into the perpetrator’s account … An entity will make a payment to a service provider …
Date: 5/14/2018 Size: 156KB