The recent revelations of fraud at SASSA highlight the urgent need for improved payment security systems, especially given the loss of over half a billion rand over a decade.
The significant recovery of R150 million from ineligible beneficiaries is encouraging, but it represents only a small fraction of the losses incurred, emphasizing the need for stronger verification.
With Serge Belamant's systems, fraud was dramatically lowered, providing annual savings of approximately R2bn, contrasting sharply with the current situation at SASSA.
Success stories from Belamant's implementation include increases in financial inclusion rates across several African nations, illustrating the potential of robust payment systems to combat fraud effectively.
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