Enhancing Private-Private Information Sharing in South Africa to Disrupt Economic Crime
An estimated €4 trillion is laundered annually worldwide, with only around 1-2 per cent successfully confiscated under existing compliance frameworks.
South African Fraud Prevention Services
Company · SO · 2 documents
Key number
R3.3 billion ZAR
Financial losses from AI-driven cybercrime in South Africa in 2023. ACCESS Access to science business innovation in digital economy p.2
Key number
€4 trillion EUR
Estimated annual global money laundered. Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad p.4
Key number
€100-150 billion EUR
Annual global banking expenditure on AML compliance staff and technology. Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad p.4
Key number
2,169 incidents
SABRIC ATM incidents resolved through real-time information sharing in 2024. Potchefstroom Electronic Law Journal/Potchefstroomse Elektroniese Regsblad p.15
Electronic Banking Fraud in South Africa: Key Drivers in the Digital Age
In 2017, the South African Reserve Bank issued operational licenses to 3 fully digital banks, escalating competitive dynamics across the sector.