Top fraud trends for next year

a logical caReeR - investigating logistics

“The importance of logistics and supply chain management has grown in a really big way,” says Alida Hattingh of Boston City Campus. “In any industry goods need to be sourced, bought, stored and dispatched. This is even more important in a digitally run business. Efficient and effective management of all these processes is critical in the business world.”

Alida is very excited about logistics as a career of the future.

“While the pandemic has ended, it boosted online shopping in a huge way, and all signs are that the popularity of getting your groceries and shoes through a digital order is here to stay. The pandemic showed is that studies, work and clothes shopping can be done more effectively online! I really believe that graduates who are equipped with a comprehensive and integrated knowledge of logistics will have doors open to them. In the retail sector there are elements that must be almost perfect in order to remain competitive and efficient. These include customer relationship management, pricing, timing and delivery,” she explains. “It makes sense then that logistics and supply chain management are critical competencies that contribute to creating customer satisfaction.”

Delivering products/services at the promised time; place; cost, and in the agreed upon quantity and quality keeps the wheels turning in this business and career.

So what does a job in logistics entail?

The logistics sector ensures that goods are available to consumers when and where they need them.

When you register at Boston, a chain is set in motion to ensure you get your academic material, notes, text books, registration pack - all at the right time and the right place – we have over 47 branches so this must be done right! Logisticians oversee important phases of a product’s life, including allocation, distribution, and delivery.

The demand for logistics is currently at an all-time high; this might be the career for you.

1. Job growth

Logistics is a rapidly expanding field that continues to experience growth even in the height of the recession. Now, the field is even more promising. As the economy experiences a downturn, retail spaces close, and online markets increase. Therefore so does the need for logistics managers.

2. There is a relatively low barrier to entry

Logistics offers job-seekers the opportunity to secure work without an advanced degree.

3. Opportunities exist for promotion within logistics and within the company

Upper management jobs will be available – make sure you can take advantage by continuing your studies with a degree.

4. Work close to home

Since warehouses require large spaces, many will be found outside of the very industrial or urban areas where rent is costly, and may be situated closer to residential areas.

5. Specialise in an industry

Within the field of logistics, candidates can choose an industry that they enjoy such as medical, retail or books. Places of employment also can vary from big corporations, small business, and not-for-profit organisations.

The Boston Higher Certificate in Logistics and Supply Chain Management will enable graduates to operate effectively in the workplace using a number of Windows based applications; Understand the implications of basic accounting and value analysis in the reduction and possible elimination of total cost of operations in an organisation: Apply different stock and materials management technologies in order to offer best service to both internal and external stakeholders: understand different sources of vendor information: apply logistics and procurement principles to manage forecasting and time.

Steady employment and high pay encourage individuals to remain in the field because they find their work so rewarding. However, the skills they develop do open new and exciting challenges to them!

These upbeat employees believe in their ability to make a difference in this field, enjoying the personal growth and development. Visit www.boston.co.za or call Boston National Call Centre 011 551 2000.

Tech Reporter

According to the latest anti-fraud technology study by SAS, in partnership with the Association of Certified Fraud Examiners (ACFE), 60% of businesses expect an increase in their anti-fraud technology budgets in the next two years.

The survey found that occupational fraud costs businesses more than $4,7 trillion worldwide annually. Companies, regardless of size, lose untold billions more to external bad actors, and so do ordinary people.

The research highlighted how nobody is impervious to consumer fraud threats, from account takeover to identity theft, to phishing schemes and many more.

Given how hybrid working models have become generally accepted in South Africa and abroad, it is hardly surprising that 15% of respondents saw a decrease or delay in the use of physical biometrics initiatives to combat fraud. Although many respondents project the adoption of additional analytics approaches in coming years, the use of most of these initiatives has remained relatively flat since 2019. The one notable outlier is exception reporting and anomaly detection, which is used by 55% of the companies in the current study, compared to 64% in the previous one.

ACFE executive Bruce Dorris says curbing the torrent of fraud starts with building awareness.

“Anti-fraud professionals must be equipped with the technology and know-how to detect and prevent increasingly vexing schemes,” he says.

Senior vice-president for security intelligence at SAS, Stu Bradley says: “The study revealed that 97% or more of fraud examiners consider analytics an indispensable tool in increasing the amount of fraud pre- vented, and boosting the timeliness, efficiency and accuracy of their fraud detection programmes. While that is an impressive proof point, there is likely no greater testament to the immense value of analytics in fighting fraud than the innovations and successes of our many customers.”

When deploying anti-fraud analytics, companies often tie their analytics initiatives to the areas of the business where fraud risks are highest, or where the evidence of potential fraud can be most effectively uncovered using data monitoring and analysis. The two most common risk areas monitored in the study are fraudulent disbursements and outgoing payments (43% of respondents) and procurement and purchasing fraud (41% of respondents)

SAS head of customer advisory for South Africa Stephan Wessels says given how the use of artificial intelligence and machine learning in antifraud programmes is expected to increase in two years, companies need to identify how to integrate these technologies into their process.

“This is especially critical in Africa which struggles to overcome infrastructure challenges, resulting in fraudsters leveraging increasingly sophisticated technologies to perpetrate their crimes,” Wessels adds.

Youth Against Aids, an initiative of the Ohhh! Foundation, now hopes to strike a new path in the fight against HIV by confronting the stigma. Since inception in 2018 Youth Against Aids has been working internationally to prevent new HIV infections among young people. The initiative is active in South Africa and Namibia.