Digital financial crime has become a major threat to both consumers and businesses. the rapid digitalization of many consumer services such as banking, online retail and even many services has created new risks. 

An interview on MoneyWeb told a story of how a business associate had their personal email hacked, which criminals then used to steal a significant amount of money. 

Such stories have become increasingly commonplace as digitalization takes over the ways we do business and manage our money. As we place more trust in digital systems, criminals have more trust to exploit on digital platforms. 

Issues of Identity Verification and Online Trust 

The issue of phishing speaks to the broader challenges of digitalization faced by both consumers and businesses. 

For consumers, there must be an increasing awareness of how one’s trust can be exploited and used to commit financial crimes. An awareness of social engineering techniques such as phishing, smishing and vishing is essential to avoid falling victim to financial crime. 

For businesses, it is essential to integrate digital tools that are capable of combating financial crime on digital platforms. Digital tools for KYC checks, identity verification, risk assessment and enhanced due diligence are vital for securing South Africa’s digital environment and fostering trust in online transactions. 

Identity Verification, Risk Assessment Services and KYC Checks for South Africa 

ThisIsMe is South Africa’s leading provider of digital tools for tasks like enhanced due diligence, KYC, customer due diligence, data validation and risk assessment. Committed to world-class standards for data handling and data privacy, ThisIsMe is proud to be at the forefront of a trust-based and privacy-compliant digital world. To experience our full suite of advanced due diligence services, contact our team here.