In 2014, a fraudster was convicted of company hijacking. This conviction for company hijacking, the first of its kind, involved a member of a syndicate that fraudulently submitted CM29 forms to the Companies and Intellectual Property Commission together with minutes and resolutions for the amendment of directorships of a global beverage company, a representative of German companies in South Africa, a production company of catalyst gauzes and customised getter systems and a property...

When one reads media headlines relating to money laundering and organized crime, it can strike fear of the unknown in any reader. It should come as no surprise that South Africa has one of the highest organised crime rates in the world, with criminal syndicates being responsible for most financial crime currently happening within the country.

South Africa has over many decades grown to be an increasingly favourable hunting ground for emboldened criminals looking to capitalize on any opportunities arising out of the nuances that accompany a developing economic and financial system.

It goes without saying that working with external third parties is inevitable when conducting business. In this respect, most organisations work with one or more suppliers, service providers, agents and/or consultants. This ultimately exposes organisations to the risk of being victim to third-party corruption or in some instances exposing such organisations to liability for corrupt activities that may be perpetrated by such third parties should such third-parties engage in corrupt activity...

For any criminal syndicate looking to target a business, there are few things more valuable than having access to a company insider. Whether they are able to plant someone inside the organisation by filling a vacant position or are able to draw an existing employee into their criminal enterprise, having that insider power makes their lives a lot easier.

Anyone who has paid attention to the headlines over the past few years will know that organised crime has had a devastating impact on South Africa, costing the country billions of rands every year. Headline watchers would also have noted that corporates are often among the victims of organised crime, with repercussions ranging from lost revenues to severe reputational damage and even closure.