SA corporate crime rate almost double global average

JOHANNESBURG - High levels of economic crime in the corporate space is becoming commonplace in South Africa.

The country's rate sits at 77 percent, compared to the global average of 49 percent, according to the 2018 Global Economic Crime and Fraud survey conducted by Pricewaterhouse Coopers.

READ: NPA head warns corrupt officials

Once reputable companies like Steinhoff, KPMG and Mckinsey are now in tatters.

National Director of Forensic Services at Mazar, Christo Snyman said a critical element of fraud prevention and prosecution is the transfer of skills.

READ: Spotlight on corrupt officials following Joburg CBD chaos

Snyman said many skilled police officers have left the police service and investigating the matters is subsequently more difficult.

Another problem he highlighted is what he called, "the disregard for proper procedures" within the corporate sector.

Source
eNCA

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