The information age has given rise to a hundred different ways of tricky folks out of their hard-earned cash. By now everyone knows not to respond to those messages or give someone your banking details under any circumstances, but the scams continue all the same.
For a while, it was the consumers’ responsibility to ensure that they did not fall into any traps, but legislation has slowly been pinning more of the blame on network providers and banks to protect their customers.
Some of these dodgy services have had a bigger impact on companies than they realised. For example, news recently broke about Vodacom losing nearly half of their revenue from content subscriptions in the last financial year. This happened after they hunted down all the fraudulent content subscribers who were abusing their clients.
Many clients may not even have been aware of the R5 leaving their accounts every so often, but Vodacom did what was right. It did cost them a bit in the last year, but what are the benefits of being ethical in the long run?
I am not fully able to see the future, but I can, occasionally, predict a few possible outcomes.
The first of which is legal president. If it is now established that it is entirely within the means of a network provider to protect their clients, as proven by Vodacom, it may become a requirement that all providers take responsibility for protecting consumers from these scams in future. This will allow Vodacom to be ahead of the pack, adhering to new regulations first and losing very little to repaying fraudulent subscriptions.
Secondly, clients from other providers, frustrated by the scams and criminal activity on their accounts may opt to choose Vodacom and the protection they provide. This could become a vital selling-point if content fraud increases.
Finally, sometimes doing the right thing is its own reward. Vodacom obviously cares about their clients and the security of their accounts. Acting ethically places your feet firmly on the moral high ground and that is never a bad place to be.