JOHANNESBURG - Global financial crime is surging, and the numbers are becoming a concern.
According to the Nasdaq Verafin 2024 Global Financial Crime Report, criminals made off with over $3.1-trillion worldwide in 2023.
And South Africa wasn’t spared.
The local economy took a hit of more than R3-billion last year due to financial crime.
President of the International Association of Financial Crimes Investigators, Christo Snyman, said financial crime in South Africa is a massive problem.
"We're struggling to get to grips, investigate the matters and get criminals prosecuted," he said.