South Africans’ inheritance money is being stolen

• South Africans are losing significant amounts of money to criminal syndicates targeting deceased estates, with criminals impersonating executors to take money meant for beneficiaries.
• The estate administration process in South Africa is highly manual and involves multiple public and private-sector organisations, including the Master’s Office, executors, attorneys, banks, and other financial institutions.
• ASISA is working with the financial intelligence sector to combat deceased estate fraud, and beneficiaries are advised to protect themselves by identifying all assets forming part of the estate and informing financial institutions of the legitimate beneficiaries and executors.