Lexis Nexis
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This week: Paper vs. Proptech: The evolution of property inspections; Free webinar: FICA and KYC Compliance for property professionals; and the pet debate in Sectional Title schemes is far from over. -
Synthetic identity theft, or rather synthetic identity creation, has become a major breakthrough for fraudsters. The days of having to find a ‘mark’ with a good credit standing who ticks all the boxes for stealing their identity in order to defraud financial and other institutions, are fast disappearing. Syndicates have evolved in their methods of theft and fraud, safe in the knowledge that they can neither be identified, nor caught, and never be prosecuted. -
“Identity theft, criminal investigations of the dead or missing, mass disasters both by natural causes and by criminal intent – with this as our day to day reality, the establishment and verification of human identity has never been more important or more prominent in our society. Maintaining and protecting the integrity of our identity has reached levels of unprecedented importance and has led to international legislation to protect our human rights.” – (Forensic Human Identification: An Introduction, 1st Edition - Tim Thompson, Sue Black) -
Synthetic identity theft, or rather synthetic identity creation, has become a major breakthrough for fraudsters. The days of having to find a ‘mark’ with a good credit standing who ticks all the boxes for stealing their identity in order to defraud financial and other institutions, are fast disappearing. Syndicates have evolved in their methods of theft and fraud, safe in the knowledge that they can neither be identified, nor caught, and never be prosecuted. -
Know your customer (KYC) is a business principle within the Financial Intelligence Centre Act, 2001 (FICA) that encourages relevant companies to establish and verify the identity of their customers/clients before or during the time they do business. -
Abiding by a host of regulatory requirements is an additional responsibility for businesses, many of which already face immense pressure to increase margins in tough economic times and improve customer satisfaction in competitive environments. -
Know your customer is a business principle within the Financial Intelligence Centre Act (FICA) that encourages relevant companies to establish and verify the identity of their customers and clients before or during the time they do business.