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Verify Now - Identity Verification Platform
The State of
Identity Fraud
2026
Global Context, FICA Compliance, and the AI Escalation.
Executive Summary
The Industrialization of Financial Crime
The 2026 financial year marks a decisive turning point in South African cybercrime. Following South Africa\'s removal from the FATF Grey List in October 2025, the market has pivoted from crisis management to combating sophisticated AI-driven crime.
However, the legacy Green ID book remains a critical vulnerability, fueling a 400% surge in impersonation fraud. Specialized syndicates have industrialized "Injection Attacks" to bypass global biometric standards.
Year-on-Year Increase (SABRIC)
Total Validated Losses (2025/26)
Cross-Border Verification
Globalizing Trust in a Post-Grey List Era
Outbound: SA to Global
Despite delisting, global partners await the 2026/27 "5th Round" Mutual Evaluation. Correspondent banks continue to demand Enhanced Due Diligence (EDD), specifically regarding Source of Wealth and UBO Transparency.
Inbound: Global to SA
The "Green Book Dilemma" plagues global platforms. Standard OCR tools fail to verify these legacy documents, leading to 40% false rejection rates. Success requires integrating local HANIS/Golden Source data layers.
The 2026 Compliance Checklist
Actionable Steps for FICA / AML Alignment
Update RMCP
Align Risk Management Programme with 2026 FICA Amendments.
Identify UBOs
Mandatory verification of all natural persons with >5% ownership.
Warm Body Validation
Electronic checks must query Home Affairs (HANIS) directly.
Sanctions Screening
Daily screening against UN Security Council & OFAC lists.
CIPC Filing
Submit updated Beneficial Ownership filings to CIPC registry.
Ongoing Monitoring
Implement automated triggers for change in risk profile.
"We built VerifyNow because South African businesses deserve verification infrastructure that actually works—fast, reliable, and connected to the data sources that matter."
Direct integration with Dept. of Home Affairs & CIPC.
ISO 30107-3 compliant defense against deepfakes.
Full FICA remediation & automated workflows.