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Fraud report back

8 October 2009

Dawie Verryne, General Manager of Korbitec's Property Division, who is co-hosting the event with Glenrand MIB comments that banks and attorneys alike have experienced a drastic increase in fraudulent home loan applications in the last year. "Fraudsters are becoming more organised and sophisticated and often include syndicates. This is in line with trends that have been experienced in the UK."

Delegates to the seminar were addressed by the following expert speakers: Vincent Faris of Price Waterhouse Coopers, Leo Swart of the SA Law Society, Pieter Vorster of Absa, Greg Salter of Nedbank and Susan Coetzee of Sabric.

The seminar was well attended by over 120 delegates, representing senior managers from all four of the big South African banks, and directors and partners of leading law firms in the industry.

Verryne noted that the seminar has helped to uncover the challenges faced by the industry in detecting and preventing fraud. More information and articles about this topic to follow.

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