Thursday, August 21, 2014

Leading the Fight Against Insurance Crime

The South African Insurance Crime Bureau (SAICB) was officially launched in 2008 to address organised crime in the short term insurance industry. Since then, the SAICB has established itself as a valuable tool in the fight against insurance crime and related fraud, bringing together various agencies working in the broader fight against commercial crime. In addition to partnering with insurers and law enforcement agencies to assist in detecting and investigating insurance fraud and prosecuting insurance criminals, the SAICB leverages multiple resources to educate the public and facilitate internal and external data sharing initiatives.

While the main focus of the SAICB is to address organised fraud and crime, the SAICB also investigates repeat offenders and fraudsters that target multiple insurance companies. Our aim is not to replace the internal fraud investigation units of the insurance companies but to specifically look at fraud and crime being committed across the industry, and affecting multiple companies, i.e. syndicated crime and fraud.

This cannot be done in isolation as the insurance industry shares clients, intermediaries, sometimes service providers, and indeed criminals with other sectors in the financial industry. These industries include the broker fraternity, the life insurance industry, the medical schemes industry, the banks, and others. In fact, the ultimate aim of the SAICB is to create a joint initiative for the whole financial services industry and other related stakeholders to address crime and fraud through the sharing of information.

Latest News

Project Loskop Search & Seizure Operation

On 27 February 2014, a search and seizure operation was conducted at the offices of Statusfin brokers in Groblersdal by the South African Police National Investigation Unit, DPCI Polokwane, the SAICB and Santam.

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Make a Difference. Report Fraud

If you suspect insurance fraud, you can report it safely, easily and anonymously on the
toll free insurance fraudline.

Case History

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Insurance Fraud Case Update: Speed | SAI…

Case Update: Speed In this case, a wreck of a luxury vehicle was bought by an individual (let’s call him Mr.... Read more

Vehicle Finance Fraud Update: Wildfire |…

Case Update: Wildfire A syndicate of 7 members has been identified in the Durban area and is under investigation for submitting... Read more

Vehicle Identification Update: March 201…

March 2012 Case History Van Rhyn Deep Pound UpdateThe SAICB together with our eleven member companies, in partnership with the SAPS,... Read more

Vehicle Pound Update: February 2012 | SA…

February 2012 Case History Van Rhyn Deep Pound UpdateAt this point in time, the SAICB together with our eleven member companies,... Read more

Client Testimonials

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MiWay

“MiWay regard the SAICB as a critical part of our strategy in the detection and combatting of organised crime, and... Read more

Lion of Africa

“Lion of Africa is one of the proud founding members of the SAICB and has seen it grow in membership... Read more

Santam

“Commercial crime has risen to its highest level in the past eight years. According to the 2011 South African Police... Read more

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