Jacobs: South Africa identity corruption
-YouTube: click link to open in a new window
It shows exactly why South Africa is grey listed by the FATF. Black listing could not be far away....
Identity Management and especially the move to Digital Identity Management service providers who put the Customer Experience above the protection and integrity of individuals’ identity by promoting frictionless self-styled onboarding and registration using corrupt and compromised "trusted sources" are actively contributing to the breeding ground cauldron of Synthetic, Fraudulent and Duplicate Identities and in fact abetting criminal activity of money laundering, terrorism funding and human trafficking by syndicates, politicians, law enforcement and criminal individuals alike.
The Department of Home Affairs, Credit Bureaux and other "trusted sources" are even staffed by persons collaborating with some of the world’s largest fraud syndicates, and there is little or no political will to end this scourge. It’s profitable, thank you very much!
In turn, the banking fraternity with their huge appetite for risk and total disregard for the international Anti-Money Laundering and Terrorism Funding activities financial institutions need to perform to achieve compliance with legal requirements to actively monitor for and report suspicious activities are very much guilty of this rot.
It's time to take Identity Management seriously. It's time to implement a True Identity Management solution based on a Forensic protocol. The time to reverse this spiralling downwards into the abyss for South Africa is NOW!
Dawid Jacobs is Chief Executive Officer at Diverse Authentication Library Global Inc. (DAL-Global Inc.)
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