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.
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.