National Lotteries Commission Hosts ACFE During International Fraud Awareness Week 2020.
On Wednesday, 18th November 2020, Update South Africa journalists along with other media, attended a International Fraud Awareness Week Conversation, hosted by the National Lotteries Commission.
The Virtual Dialogue was held in Sandton, where they hosted the founders of the International Fraud Awareness Week in South Africa, ACFE SA which was represented by their CEO Mr. Jaco De Jager.
Attending the @SA_NLC Fraud Awareness event today. Great intro by one of their directors and audit committee chair. @ACFESA pic.twitter.com/tI2zWdschs— Jaco de Jager (@Jaco_de_Jager) November 18, 2020
The ACFE is the world’s largest anti-fraud organization and premier provider of anti-fraud training and education.
The conversation which was a public event through a live stream on YouTube, focused on educating not only NLC employees but the public at large, about the impacts of fraud and scams in our country.
The NLC Company Secretary and Currently acting Executive Legal Manager Advocate Nompumelelo Nene, assured that not only does the NLC vehemently thrive to protect their beneficiaries and stakeholders from scammers, but that the NLC leadership is relentlessly dedicated to genuinely changing the lives of disadvantaged South Africans through their grant funding model.
In her presentation, Advocate Nompumelelo Nene highlighted the NLC’s statistics and achievements, within the past financial period.
Acting Executive Legal Manager of the NLC ADV. Nompumelelo Nene speaks on the ethics of the organisation , Corporate Governance framework and measures put into place to deal with fraud and scams within the National lotteries commission #NLCIFAW2020 #FUNDINGFORIMPACT pic.twitter.com/Iyuj7V6svx— IG: sa_nlc (@SA_NLC) November 18, 2020
The NLC has successfully funded 4000 beneficiaries in the 2019/2020 financial period. 53% of the funds were distributed to beneficiaries in the rural areas, 43% went to urban-townships and 4% of the beneficiaries were in urban-suburbs.
Did You Know: During the 2019/19 financial period, the NLC successfully distributed funding to 4000 beneficiaries, in which 53% of the funding being distributed to rural areas, while 43% of the funded beneficiaries were in urban townships and 4% in urban-suburban. #ChangingLives pic.twitter.com/OpQ91idca5— IG: sa_nlc (@SA_NLC) November 18, 2020
The NLC strongly believes in the transparency, accountability and trust – when it comes to public funds, which is why they prioritise conducting business ethically – so to protect public funds against potential fraud and corruption.
Not only does the NLC maintain a culture of sound corporate governance, they also ensure that public funds received from the National Lottery operator are distributed fairly to NPOs for good causes using stern application processes.
The NLC is also a big advocate for ethical practices as they always strive, and continue maintaining high ethical standards when it comes to alleviating potential fraud and corruption through various ground-breaking initiatives that ensure their valued employees and external stakeholders engage in ethical practices at all times.
Update SA’s take away from the International Fraud Awareness Week conference is that the NLC board commissions stringent measures and protocols to ensure that funds are distributed fairly, to ensure that NGOs and NPOs continue to function despite the global pandemic, COVID-19.
Update SA can also confirm that the NLC rated 69.7% for the ethics monitor survey, where the average benchmark rate is 65%. The NLC also excelled by getting a AAA grade, from D – which was scored by the overall AA ethics.
Power FM presenter Aldrin Sampear asked if BEE fronting was also considered as fraud, and here’s what people had to say:
@Powerfm987 Presenter @AldrinSampear asked a pivotal question in closing of the 1 hour panel discussion with the NLC International Fraud Awareness Week 2020 Panelists. #NLCIFAW2020— IG: sa_nlc (@SA_NLC) November 18, 2020
Question: Is BEE fronting also considered as fraud?
To see the rest of this enlightening conversation, and more tips on how to prevent being scammed and defrauded, watch this clip: https://youtu.be/MuEBm2z2ioA
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