Scammers target staffing industry with pay card scams

South African companies lose over R100 million ($6 million) annually to payroll fraud, surpassing losses from armed robberies. Legal expert Yolande Schoültz says firms often uncover payroll fraud only by accident, sometimes after years of losses. Fraudsters use ghost employees and weak internal controls to siphon salaries into personal accounts. Experts urge monthly audits and independent annual ID checks, while tech firms push for automated payroll systems to curb abuse.

South African companies lose over R100 million ($6 million) annually to payroll fraud, surpassing losses from armed robberies. Legal expert Yolande Schoültz says firms often uncover payroll fraud only by accident, sometimes after years of losses. Fraudsters use ghost employees and weak internal controls to siphon salaries into personal accounts. Experts urge monthly audits and independent annual ID checks, while tech firms push for automated payroll systems to curb abuse.

South African companies lose over R100 million ($6 million) annually to payroll fraud, surpassing losses from armed robberies. Legal expert Yolande Schoültz says firms often uncover payroll fraud only by accident, sometimes after years of losses. Fraudsters use ghost employees and weak internal controls to siphon salaries into personal accounts. Experts urge monthly audits and independent annual ID checks, while tech firms push for automated payroll systems to curb abuse.

With the new Revamped ECR 3.0, even a single incomplete employee profile can block challan uploads! 😬 Here’s what employers must ensure before challan preparation: ✅ All employee UANs and profiles are updated ✅ KYC, Aadhaar & bank details are verified ✅ Duplicate UANs are merged ✅ Exit dates are updated for transfers Any lapse can lead to blocked challans, delayed payments, and penalties. At SBS HR, we help businesses stay compliant and payroll-ready with zero errors. 💼✨ 📩 Talk to our compliance experts today and keep your PF filings stress-free! 👉 Visit: www.sbshr.com #ECR3 #EPFOUpdate #PayrollCompliance #HRCompliance #PayrollOutsourcing #EmployeeManagement #HRUpdates #PFPortal #SBSHR #PayrollSolutions #HRServices #ComplianceMatters #ECR3Update

Scammers are actively exploiting payroll systems by changing direct deposit information to fintech bank accounts, which allows them to withdraw funds early before the fraud is discovered. A huge red flag is a partial deposit, known as the 99% trick, where the scammer leaves 1% in the employee's original account to cause confusion and delay the employee's realization that the majority of their check is missing. Protect your business by requiring employees to use secure self-service portals for all changes and always verify any suspicious email requests by calling the employee directly, as even a short delay caused by this confusion can be enough time for the scammer to get away with the money. Watch this week's episode of Kaizen Time and learn how to protect your Payroll!

Scammers are actively exploiting payroll systems by changing direct deposit information to fintech bank accounts, which allows them to withdraw funds early before the fraud is discovered. A huge red flag is a partial deposit, known as the 99% trick, where the scammer leaves 1% in the employee's original account to cause confusion and delay the employee's realization that the majority of their check is missing. Protect your business by requiring employees to use secure self-service portals for all changes and always verify any suspicious email requests by calling the employee directly, as even a short delay caused by this confusion can be enough time for the scammer to get away with the money. Watch this week's episode of Kaizen Time and learn how to protect your Payroll!

Scammers are actively exploiting payroll systems by changing direct deposit information to fintech bank accounts, which allows them to withdraw funds early before the fraud is discovered. A huge red flag is a partial deposit, known as the 99% trick, where the scammer leaves 1% in the employee's original account to cause confusion and delay the employee's realization that the majority of their check is missing. Protect your business by requiring employees to use secure self-service portals for all changes and always verify any suspicious email requests by calling the employee directly, as even a short delay caused by this confusion can be enough time for the scammer to get away with the money. Watch this week's episode of Kaizen Time and learn how to protect your Payroll!

Scammers are actively exploiting payroll systems by changing direct deposit information to fintech bank accounts, which allows them to withdraw funds early before the fraud is discovered. A huge red flag is a partial deposit, known as the 99% trick, where the scammer leaves 1% in the employee's original account to cause confusion and delay the employee's realization that the majority of their check is missing. Protect your business by requiring employees to use secure self-service portals for all changes and always verify any suspicious email requests by calling the employee directly, as even a short delay caused by this confusion can be enough time for the scammer to get away with the money. Watch this week's episode of Kaizen Time and learn how to protect your Payroll!

Scammers are actively exploiting payroll systems by changing direct deposit information to fintech bank accounts, which allows them to withdraw funds early before the fraud is discovered. A huge red flag is a partial deposit, known as the 99% trick, where the scammer leaves 1% in the employee's original account to cause confusion and delay the employee's realization that the majority of their check is missing. Protect your business by requiring employees to use secure self-service portals for all changes and always verify any suspicious email requests by calling the employee directly, as even a short delay caused by this confusion can be enough time for the scammer to get away with the money. Watch this week's episode of Kaizen Time and learn how to protect your Payroll!

Scammers are actively exploiting payroll systems by changing direct deposit information to fintech bank accounts, which allows them to withdraw funds early before the fraud is discovered. A huge red flag is a partial deposit, known as the 99% trick, where the scammer leaves 1% in the employee's original account to cause confusion and delay the employee's realization that the majority of their check is missing. Protect your business by requiring employees to use secure self-service portals for all changes and always verify any suspicious email requests by calling the employee directly, as even a short delay caused by this confusion can be enough time for the scammer to get away with the money. Watch this week's episode of Kaizen Time and learn how to protect your Payroll!