Innovative Solutions to Prevent and Fight Fraud Viglant, an industry-leading loss prevention membership organization, manages the largest database of fraudulent conduct instances in East Africa. Safaricom has partnered with Viglant to leverage this solution and curb the ever-evolving fraud within our ecosystem.
Key Benefits:
• Enhanced Confidence: Safaricom can now vet new staff and suppliers against known instances of fraudulent conduct and check their credit history before onboarding. This ensures that only trustworthy individuals and entities are brought into the fold.
• Enhanced Partner Oversight: Since partners are actively involved in the onboarding process, they gain visibility and control over who is operating their tills at any given point in time.
• Fraud Prevention: Real-time alerts notify stakeholders whenever instances of fraud occur, allowing prompt action to mitigate risks and prevent further damage.
• Behavior Deterrence: Flagging and blacklisting individuals who engage in fraudulent conduct helps deter unwanted behavior, creating a safer and more secure environment for all stakeholders.
Gains So Far:
• 50% drop in irregular SIM registrations, showcasing the effectiveness of the initial phase.
• 90% drop in daily blacklisted Business Associates (BAs), significantly reducing the number of fraudulent entities in the market.
• Over 4,000 fake BA registrations prevented using stolen or fake IDs, highlighting the robustness of the vetting process.
• 4,000 BAs blacklisted and 17,000 others rejected by the system, ensuring that only legitimate and trustworthy individuals are onboarded.
Rollout Plan:
1. Phase 1: Focused on SIM-registering agents, resulting in significant reductions in irregular registrations and blacklisted BAs. This phase has already shown remarkable success, with a substantial drop in fraudulent activities.
2. Phase 2: Will cover all M-PESA agents, extending fraud prevention measures to a broader network. This phase aims to further enhance the security and integrity of Safaricom’s operations.
3. Phase 3: Will extend to other partners' employees, ensuring comprehensive coverage across all areas of operation. This final phase will solidify the fraud prevention framework, making it more robust and effective.
Support Required from Partners:
To ensure the continued success of this initiative, we request our M-PESA partners to:
• Onboard All Subagents: Integrate all subagents into the Fraud Viglant system to ensure comprehensive coverage.
• Subscription Cost: Onboarding is free for all transacting agents within the Safaricom ecosystem.
• Report Fraud Incidents: Promptly report all instances of fraud to help maintain the integrity of the system.
• Seamless Transfer of Agents: Facilitate the seamless transfer of agents from one Head Office (HO) to another to ensure continuity and prevent disruptions.
