South Africa’s fight against tender fraud is gaining ground thanks to the launch of a new service from Experian, the global information services company, which makes combating fraud easier for organisations.
This is the conclusion of Experian SA’s Managing Director, Michelle Beetar, who reveals that increasing numbers of corporations in South Africa are turning to its fraud prevention system to detect unethical tender processes. In fact, Beetar reveals that a large South African organisation recently conducted an exercise of this nature which revealed that as many as 20 staff members had personal interests in companies that had conducted a massive R1.2 billion of business with the company.
The approach includes a process whereby all companies recommended for tenders are verified with information held on Experian’s business credit bureau. Cross-checking a company’s human resources records with the Experian system and comparing them with the company’s vendor database can then expose potential tender fraud that may warrant further investigation,
Experian provides data and analytical tools to clients while helping businesses to manage credit risk, prevent fraud, target marketing offers and automate decision making.
Source: Experian Press Release