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In April 2024 it was reported that digital wallet usage has surged in South Africa (https://bit.ly/4aWeskq) and in more recent reports the same trend is being reported for the United Kingdom (https://bit.ly/3A5mKtb).

Could it be that digital wallets could become even more widespread if people were better informed about the ins and outs of these payment methods? Find out all you need to know about digital wallets at the link below and become part of this revolution in payments.

Your Beginner’s Guide to Digital Wallets: How They Work and When To Use Them We have created your expert guide on how to use a digital wallet. Read on to learn more on what a digital wallet is and how to leverage it to your advantage.

With Women's Day taking place on the 9th of August, we're celebrating women this month at Contactable. We're excited to hear stories from our team members about incredible women who have made a difference in their lives. Today, see what Contactable's Dalene Botha had to say 😊

Q: Tell us which female inspires you to be better, do better, and be more. It could be a renowned figure or someone close to your heart, like your mom. Also, share a quote, saying, or lesson you’ve learned from her.

A: My mom is my role model. She is a strong woman who raised four children by herself. A quote I like about women: "A woman with a voice is by definition a strong woman."

The sharing of personal information (telephone numbers, ID numbers, email addresses) is something we have become used to. The question is: How safe is your personal information in the hands of others?

We live in a time of data breaches; being a victim of a data breach can be very costly in terms of time and money. This is one of the reasons why there is an increased focus on self sovereign identities or decentralised identities which will put the control of a person' digital identity back in their own hands. This is not a reality for many so for now, it's up to the consumer to take back control of their personal data.

Stop giving out your phone number—and other ways to protect your personal data from hackers Our digital identities are being created and controlled by outside forces. This demands a shift in the way we share our personal data.

Stay ahead with efficient UBO due diligence. 💼 Here are another 2 steps that can help your business create an effective UBO programme.

Step 3️⃣: Identify Beneficial Owners
Calculate total ownership stakes and identify if they cross the threshold for UBO reporting. Manual processes can delay onboarding and introduce errors. Automate your verification workflows for better compliance and efficiency.

Step 4️⃣: Conduct KYC checks, perform KYC procedures, including UBO screening on all identified UBOs.Manual checks are time-consuming and prone to errors. Automate your process for seamless compliance.

In this time of identity fraud and theft, it is critical that individuals are aware of the risks of their personal data being exploited by fraudsters. It seems that cybercriminals always have a new trick up their sleeves so it's important to, at a minimum, have the basics in place in terms of protecting your personal information. Read this article for six key ways of making sure your personal information stays secure.

6 ways to protect your personal information online | Chubb Follow these tips to ensure your personal information doesn’t end up in the wrong hands.

Boost Efficiency with Automated UBO Checks. Without a proper system, UBO checks can be complex and tedious. Automate your business verification workflow to save time and resources while ensuring accurate compliance. 📈

Synthetic identity theft in South Africa

Identity fraudsters are becoming more and more innovative in their attemtps to get access to people's personal information. Jerry Chetty, the head of business integrity at Santam, says fraudsters are quick to adopt new technology and are effectively using it to commit various fraud scams, especially regarding identity theft. (If you have not heard of synthetic identity theft before, here is a definition from the article at the link below: "Synthetic identity theft is when a fraudster creates a false identity by combining real and fake identifying information.") In Africa, identity fraud and theft are on the rise as rapid digitisation takes place. This is according to the 2024 Digital Identity Fraud in Africa Report.

For more about synthetic identity fraud and theft in South Africa and ways of protecting your personal information, read here: https://bit.ly/3SldQy5



(Photo by Evgeniy Alyoshin on Unsplash)

🔓 Unlock a world of possibilities with our Integrated Identity Platform. Reduce manual paperwork, minimise errors, enhance security and improve efficiency all while delivering a seamless experience to your clients.

At Contactable, we tailor solutions to your specific business needs across finance, healthcare, e-commerce and more. Experience the future of onboarding with our IIP.

Say goodbye to the complexities of traditional identity solutions. Contactable's Integrated Identity Platforms (IIP) offers seamless end-to-end services, ensuring:

- Robust fraud prevention
- Improved customer experience
- Simplified legacy systems.

Join the revolution in consumer identity management. Discover how we can transform your identity verification process today.

Yesterday, Contactable staff united for a heart-warming charity drive to support the SPCA and help animals in need. The event saw generous donations from both the company and individual staff members, providing essential items like dog and cat food, kitty litter, treats, and blankets. This initiative showcased Contactable's strong commitment to corporate social responsibility and their dedication to making a positive impact beyond their business.

The charity drive not only supplied vital resources to the SPCA but also fostered a sense of community and shared purpose among the Contactable team. Employees’ contributions amplified the collective effort, demonstrating a palpable spirit of generosity and compassion.

The SPCA expressed heartfelt gratitude, emphasising how these donations directly benefit the animals in their care. The successful drive strengthened the bonds within the Contactable community, proving that together, we can make a significant difference.

Join us as we honour the legacy of Nelson Mandela today, a legacy of reconciliation, equality and of making a difference in the lives of others. In what small (or big) ways are you giving back today?

Say goodbye to the complexities of traditional identity solutions. Contactable's Integrated Identity Platform (IIP) offers seamless end-to-end services, ensuring:

- Robust fraud prevention
- Improved customer experience
- Simplified legacy systems

Join the revolution in consumer identity management. Discover how we can transform your identity verification process today.

What is the link between identity platforms and ultimate beneficial ownership (UBO) databases? The first question here should probably be: Why are UBO databases necessary?

A main reason for establishing the UBO of an entity is that other parties can be assured that they are dealing with a reputable company. This will reduce the risk of unintentionally transacting with a shady shell company or funds gained from criminal activities. South Africa is currently working on removing a greylisting status imposed by the Financial Action Task Force (FTAF), including the creation of an ultimate beneficial owner (UBO) database of company ownership at the Companies and Intellectual Property Commission (CIPC). The onus will be on companies to establish UBO databases as required by government.

Cloud-based identity platforms give companies another powerful ability in their verification toolset: to build, own and modernise UBO databases that they can share via API integrations. Integrated identity platforms are helping enterprises stay ahead of AML requirements and bolster their KYC (Know Your Customer) capabilities. They incorporate UBO checks into a larger system managing related risks and provide rules that enact controls for different situations. As Contactable's Jason Shedden says: "Identity platforms provide much more than just checks. They represent a digitisation ecosystem that you can use to create UBO databases, processes, rules, and resources. UBO checks are becoming necessary by law and for risk management, but the right identity platform helps companies take back control over these challenges."

Read all about UBOs, UBO databases, identity platforms and the advantages of enterprise UBO databases, made possible by identity platforms here.

Ultimate beneficial owner (UBO) databases Step Up in the Digital Era - Bizmag.co.za Companies can use identity platforms to create internal ultimate beneficial owner (UBO) databases to mitigate risks from criminal activities.

Ultimate Beneficial Ownership (UBO) compliance is far more than a simple checkbox exercise. It extends beyond just reporting required details on paper. UBO administration can significantly impact a corporate’s bottom line. Failing to provide and verify UBO data in a compliant manner could compromise all parties involved. Ensure your business is prepared and compliant.

The emergence of Integrated Identity Platforms (IIPs) is revolutionising the consumer identity landscape. We specialise in providing comprehensive end-to-end solutions that streamline identity verification processes across the entire consumer lifecycle.

With Contactable, embrace the future of identity management. Learn more about how we can help your business thrive.

Why automate UBO due diligence?

Manual UBO checks can be costly and time-consuming. They can delay onboarding, introduce human error, and redirect important staff time to data entry.

Automating the business verification workflow, including AML/KYC checks, helps organizations achieve UBO compliance today and prepare for new regulations on the horizon.

Government is cracking down on UBOs to better regulate and combat anti-money laundering activities. The obligation to act quickly and understand UBO has never been more critical. Are you prepared for this new wave of compliance?

So what are UBOs? A UBO is defined as a person that directly or indirectly controls, has ownership of, or has voting rights to a certain percentage of a business, and therefore has a significant control in, and influence over, the company. The individual who has UBO status must have the standard threshold of a 25% share in the legal person capital, and at least 25% voting right in the general assembly. In addition, the UBO can supervise company operations, control the executive board, and even fire board members if the need arises.

Just as you use platforms like Uber or Spotify for on-demand transport and music without owning the underlying assets, Contactable offers a similar solution for digital identity and KYC processes. Say goodbye to complex licenses and software installations.

Throwback to our blog about deepfakes from February 2024. Deepfakes are becoming more prolific and AI and Generative AI are definitely contributing to the situation. What can be done?

We investigated whether identity platforms are part of the solution against deepfakes. It turns out that identity platforms can play an integral part in this fight. From the article: "As we enter a future where most online content will be synthetic, the best tactic is to use identity as a countermeasure. Identity platforms help us weaponise identity technologies against deepfakes and other identity crimes."

Contact us to find out more about identity management in this era of identity fraud. #

deepfakes

Deepfakes are a problem. Are identity platforms the solution? - Contactable Deepfakes are a problem, are identity platforms the solution. Identity platforms can help future-proof us against this threat

Did you know? 💡

Ultimate Beneficial Ownership (UBO) is becoming a crucial focus for governments worldwide. Just like POPI, the UBO journey is full of legal complexities and challenges.

Understanding UBO isn't just for the elite few—it's essential for everyone in the business world. Chat to one of our specialists to find out more: https://bit.ly/3JjAHnq

More and more nations are moving towards digital identity wallets. In this article, the pending European Union (EU) digital identity wallet is discussed. The European Commission (EC) noted on its website recently, that the wallet “will be a secure and easy way for European citizens, residents and businesses to prove who they are when accessing digital services". The wallet will have a myriad of benefits, from opening bank accounts to applying for jobs and much more. Read all about it here.

EU Continues Testing Digital Identity Wallets The EU is getting closer to rolling out its digital identity wallet. The program comes in the wake of Europe’s Digital Identity Regulation.

🌐 Establishing effective UBO due diligence programmes. There are four main steps that can help organisations create effective UBO programs. In the next few days we will be sharing those 4 steps.

Step 1️⃣: Receive Company Vitals, collect and verify accurate company records such as ID number, name, address, status, and key management personnel. Manual checks can be costly and time-consuming. Automate your workflow to ensure compliance and efficiency. 💼✅

Step 2️⃣: Analyze ownership structure, determine who has an ownership stake, either directly or through another party. Avoid the pitfalls of manual processes. Automate to save time, reduce errors, and stay compliant. 🚀

We embrace the power of Integrated Identity Platforms (IIP)

Gone are the days of dealing with complex licenses and individual software installations. Integrated Identity Platforms (IIP) cater to your specific needs, eliminating the hassle of ownership and integration complications. Experience seamless digital identity, onboarding, and KYC processes with Contactable.

Worried about how much of your private information is on the internet and vulnerable to theft or misuse?

Consider Using a Different Search Engine 🔍
Love Google? Many do. But for better privacy, try an anonymous search engine. These don't collect or share your search history and can block ad trackers on websites. Protect your privacy while you search!

FAQ - How can Contactable's platform help with KYC compliance and fraud prevention?

Answer:
Our platform incorporates comprehensive KYC capabilities, ensuring you meet regulatory requirements and mitigate the risk of fraudulent activities. With advanced identity verification methods, you can confidently authenticate and verify the identity of your clients.

Visit our website to find out more on how we can help with KYC Compliance - https://bit.ly/3mPbXsN

This article at the link below explains digital identity verification using imagery from popular movies. From "Biometrickery" in The Incredibles to "Encryption and the X-Files" and "Judgement Day: Providing confidential information" - the author uses novel ways to explain digital identity verification in the era that we live in. What is the Holy Grail of verification? Find out about the latest in verification here.

Read it here: https://bit.ly/3VZmIeI

Worried about how much of your private information is on the internet and vulnerable to theft or misuse?

Browse in Private Mode 🔍
Want to keep your browsing history, temporary files, and cookies private? Use Incognito Mode in Chrome, Private Browsing in Firefox, or InPrivate Browsing in Internet Explorer. Remember, though, your ISP and employer can still see your activity and websites can track you. Use additional privacy tools for better protection.

We are almost at the end of June and that means we're also also at the end of Youth Month for 2024. Read here what one of our young team members and business analyst, Shawne Bedford, had to say about being a young person in the tech industry:

“Working for a tech company allows you to work with optimistic people. Tech jobs often promote innovation and development, encouraging people to create new things. There are tech jobs all over the country, providing you with plenty of opportunities wherever you are, some even with a hybrid or fully remote working policy. Tech is always changing which requires tech companies to keep changing and evolving. This promotes a working environment that never allows you to do the same thing twice.

I would recommend a tech job to anyone, its fast paced, fun, and dynamic.

My advice? Embrace the constant learning mindset. Since tech is ever-evolving, so stay curious, experiment, and don't be afraid to make mistakes. There are plenty of online resources, communities, and even coding bootcamps to help you on your journey. Most importantly, focus on building things you're passionate about - that enthusiasm will fuel your drive and creativity. “

#2024

Did you know that password fatigue is real? Many of us have a tough time trying to remember passwords for different accounts, thinking up new secure passwords and just managing all the passwords linked to accounts that we use. There is technology available like password managers but how many of us make use of this technology?

A passwordless future looks tempting but what does this actually entail and how long before we can really live in a passwordless society? Read here about the benefits of MFA (although uptake has been slow), the perils of passkeys and why decentralised identity is only a concept for now.

Are users ready to go passwordless? Why it's better to move slowly The most promising passwordless technology isn't enterprise-ready. Focus on feasible IAM upgrades that will strengthen your security posture until passwordless solutions mature.

Four Pillars of Identity and Access Management 🔍

1️⃣ Consistent policies
2️⃣ Contextual access
3️⃣ Continuous sessions
4️⃣ Strong identity leadership

Let's build robust identity management together.