Why preventing fraud is essential to consumer confidence

“Many organisations were still relying on reactive approaches to fraud. By the time suspicious activity was identified, the damage had often already been done.”

This was one of the reasons two University of Cape Town (UCT) alumni – Thalia Pillay and Carla Wilby – founded anti-fraud start-up Orca Fraud.

Their approach is simple. They embed intelligence directly into live payment flows. This means they can do real-time monitoring.

“Fraudsters move quickly and adapt constantly, which highlights the need for real-time monitoring that could identify unusual behaviour as it happens rather than after the fact,” said Pillay.

Wilby added: “Our solutions are applicable across a range of sectors where financial transactions and digital interactions take place. This includes financial services, fintech, payments, lending, voucher-based transactions and other spaces where fraud risk and compliance requirements are critical considerations.

“Our team combines expertise in fraud prevention, data science, software engineering, compliance, risk management and customer success. Fraud is a complex challenge that requires both technical innovation and a deep understanding of human behaviour, regulatory requirements and emerging criminal tactics.”

In March, it was reported that the company has grown to process over US$5 billion in monthly transaction volume across more than 70 countries, working with major banks, telcos and payment providers across Africa. What’s more, Orca Fraud has raised US$2.35 million in seed funding to advance its real-time transaction monitoring and fraud intelligence capabilities across Africa and other emerging markets.

The trust factor

“For a long time, I wanted to be minister of finance; my icon was Trevor Manuel. I wanted to help stop corruption, and in a strange way that’s exactly what we do at Orca now,” Pillay said. Orca’s real-time transaction monitoring is based on analysing transactions as they occur. “Instead of reviewing activity hours or days later, our technology assesses patterns, behaviours and risk indicators immediately. This allows businesses to investigate, flag or stop suspicious activity before funds are lost or customers are impacted.”

“Effective fraud prevention helps create safer digital ecosystems where people can transact with confidence.”

Pillay added: “Trust is the foundation of every financial transaction. If a customer has to wonder whether their money might disappear, we’ve already lost. For businesses, trust means having systems in place that can identify risks without disrupting legitimate transactions. Effective fraud prevention helps create safer digital ecosystems where people can transact with confidence.

“As digital payments continue to grow, strengthening trust across the ecosystem becomes increasingly important. We interviewed over 150 fraud fighters before writing a single line of code. Orca’s success is built on collaboration between fraud specialists, technologists, compliance experts and industry partners. Preventing fraud requires a multidisciplinary approach, and we continue to work closely with organisations across the financial ecosystem to ensure our solutions evolve alongside emerging threats.”

Protection of information

Wilby said that their ambition is to become a leading fraud intelligence and transaction monitoring partner across Africa and beyond. “We want to continue helping organisations strengthen trust, improve resilience and adapt to an increasingly digital economy.

“Fraud and scams have a direct impact on consumer confidence. Every successful scam not only affects the victim but also erodes trust in digital platforms more broadly. By helping organisations identify suspicious behaviour earlier and respond faster, we contribute to a safer environment for both businesses and consumers,” she said.

“No single organisation can solve the problem alone.”

“Data protection is fundamental to everything we do. We follow strict security protocols, industry best practices and relevant regulatory requirements to ensure information is handled responsibly and securely. Protecting data isn’t one big lock – it’s hundreds of small commitments like encryption, access controls, and audits done consistently enough that nobody has to trust us on faith.”

Wilby concluded: “The fight against fraud requires collaboration. No single organisation can solve the problem alone. Success depends on technology providers, financial institutions, regulators and consumers working together to strengthen resilience against increasingly sophisticated threats.”

Pillay echoed this sentiment: “Fraud is no longer just a financial issue; it is a trust issue. Our goal is to help create a safer digital economy where innovation and security can grow together.”