Cybercrime losses
Date: August 30, 2007Source: itweb.co.za
SA loses billions of rands annually due to the population management system's inability to provide effective ID verification, says the Department of Home Affairs.
As a result, the department is overhauling its IT systems, putting in place stronger ID verification measures and helping to fight cybercrime.
Speaking at the GovTech 2007 conference, organised by the State IT Agency, in Cape Town last week, Home Affairs director-general Mavuso Msimang said government lost more than R1 billion to social grant fraud last year.
“Insurance lost in excess of R3 billion last year due to their inability to verify information,” he said. Banks and retail sectors face similar problems, with individuals applying for credit cards under false pretences, he added.
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