Fraud is no longer a peripheral concern raised only in compliance meetings – it has become a headline issue at major business gatherings. This year’s CPT Business Summit, Seamless Africa and the ACFE conference all placed fraud prevention at the heart of their agendas, underscoring the scale of the threat and the urgency for solutions.
South Africa remains a hotspot for financial crime, with identity theft and the creation of fraudulent bank accounts among the most pressing risks. The surge in criminal innovation has forced companies to rethink how they safeguard their operations and protect their clients.
SearchWorks has taken a proactive role in these conversations. Through its exhibitions at the recent events, the company has demonstrated how access to reliable, accurate data allows businesses to verify clients and vendors before engaging with them. By embedding verification into everyday workflows, companies can reduce their exposure without creating unnecessary disruption. VOCA, SearchWorks’ compliance platform, further strengthens this position by providing a complete solution to manage FIC requirements with efficiency and confidence.
The message is clear: fraud is evolving fast, but so are the tools designed to fight it. Businesses that prioritise data-driven verification will not only reduce their risk but also improve their resilience in an increasingly hostile environment.
Launched a year ago, VOCA was created to close a critical gap in the market: an automated FIC compliance solution that helps accountable institutions act in line with legislation without the heavy administrative burden. In just twelve months, VOCA has onboarded 294 new companies across a diverse range of sectors – from attorneys, estate agents and auditors to insurers, financial institutions, consultants and property developers.
Beyond ease of use, VOCA has introduced automated compliance, ongoing monitoring and customisable process flows that fit each client’s RMCP. The result is a system that not only simplifies adherence to the FIC Act but also builds long-term value by reducing the risk of penalties and reputational damage.