SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Manage and prevent fraud in a micro-finance institution 
SAQA US ID UNIT STANDARD TITLE
13442  Manage and prevent fraud in a micro-finance institution 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard does not replace any other unit standard and is not replaced by any other unit standard. 

PURPOSE OF THE UNIT STANDARD 
Persons credited with this unit standard are competent to identify fraud risks in a micro-finance institution and develop appropriate policies and procedures to counter-act these risks. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
No prior learning 

UNIT STANDARD RANGE 
The term fraud is used to describe both internal fraudulent activities conducted by employees or management of a micro-finance institution as well as fraudulent activities conducted by clients of or service providers to micro-finance institutions. 

Specific Outcomes and Assessment Criteria: 

SPECIFIC OUTCOME 1 
Describe and identify fraud as it occurs in a micro-finance environment. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Sources of internal and external fraud are identified in relation to micro-finance institutions. 

ASSESSMENT CRITERION 2 
2. The impact of fraud on the sustainability of a micro-finance company is identified by referring to specific examples or experiences. 

ASSESSMENT CRITERION 3 
3. Knowledge of the legal aspects of managing fraud in micro-lending institutions is demonstrated by listing legal and regulatory prescriptions and identifying their implications for a micro-finance institution. 

SPECIFIC OUTCOME 2 
Develop control mechanisms to minimise fraud in a micro-finance company. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Specific risks relating to fraud are identified in a specific micro-finance institution. 

ASSESSMENT CRITERION 2 
2. Procedures are drawn up to address the risk of fraud according to company specific requirements, industry best practice and legal requirements. 

ASSESSMENT CRITERION 3 
3. Procedures to address identified fraud risks are communicated to all stakeholders as per company specific requirements. 

SPECIFIC OUTCOME 3 
Monitor and update fraud control policies and procedures. 

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
1. Non-adherence to security procedures are identified and action taken as per company specific requirements. 

ASSESSMENT CRITERION 2 
2. Internal fraud audits are performed and weaknesses in policies and procedures identified in terms of requirements of the company. 

ASSESSMENT CRITERION 3 
3. Policies and procedures are updated to eliminate weaknesses identified during fraud audit. 


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
Accreditation for this Unit Standard shall be from the relevant Education and Training Quality Assurer through formative and summative assessment by a registered Assessor. Assessment should be contextual and be conducted in the workplace as far as possible.
  • The relevant NSB and SGB should be notified of any feedback related to this qualification.
  • Assessors must be registered as an Assessor with the relevant ETQA.
  • Moderators must be registered as assessors with the relevant ETQA.
  • Training providers must be accredited by the relevant ETQA.
  • Moderation should include both internal and external moderation where applicable.
  • The relevant ETQA will co-ordinate all moderation activities in accordance with their policies and procedures. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
    A demonstrated understanding of:
  • The impact and incidence of fraud in a micro-finance environment
  • The legalities of managing fraud. 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems. For example identifying the problems related to fraud and developing appropriate solutions (i.e. policies and procedures). 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information by collecting information related to the development of anti-fraud policies and procedures and then developing these policies and procedures. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and/or language skills in the modes of oral and/or written persuasion. For example policies and procedures for avoiding fraud have to be communicated to all stakeholders in a micro-finance organisations. 

    UNIT STANDARD CCFO DEMONSTRATING 
    Demonstrate an understanding of the world as a set of interrelated systems by understanding the impact of fraud on the ongoing sustainability of micro-finance organisations and the sector as a whole. 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Core  23433   Further Education and Training Certificate: Micro Finance  Level 4  Level TBA: Pre-2009 was L4  Reregistered  2023-06-30  BANKSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. AG Tax Office (PTY) LTD 
    2. Amandla Obunye Training Academy 
    3. Chartall Business College 
    4. Compuscan Academy 
    5. Felix Risk Training Consultants 
    6. Nedbank Ltd 
    7. RUDO CONSULTING cc 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.