According to a recent article in Business Day BDLive entititled “How to prevent these new scams from destroying your business“, CN&CO client Hollard Specialist Liabilities is the only insurer in South Africa that offers any relief to businesses who get caught in tender scams.

However, there is nothing anyone can do if you fall prey to fraudulent “line of credit” or “change of banking details” scams.

“We work in an environment in which nothing can be taken at face value and checking each and every transaction should not be considered overkill, but a necessity,” says the article’s author Michael Barker. “It is crucial for business owners to educate themselves and their staff about these crimes, because it is not if, but when, the fraudsters will threaten your company.”

Read the full article here.