Global economic crime and fraud survey 2020 South Africa

Economic crime: When the boardroom becomes the battlefield

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of South African (SA) organisations said they've been victims of economic crime and fraud


of internal frauds were perpetrated by senior management


of economic crime incidents were not disclosed to the board of directors


of SA respondents did not conduct an investigation of their most serious fraud incident

Organisations are facing increased complexity - Are you prepared?

The results of our 2020 Global Economic Crime and Fraud Survey have turned up one major surprise, that being that the percentage of respondents who had experienced economic crime in South Africa declined for the first time in the last decade.

However, there was no surprise in the finding that bribery and corruption and financial statement fraud are still among the more prominent types of economic crime reported. This, combined with increased involvement of senior management in perpetrating such acts, has resulted in a sharp increase in the value of losses incurred as a result.

We hope that this report will help shed light on areas that organisations have stopped seeing and will prompt them to take a closer look and identify the gaps that exist.

Proactivity, agility and resilience are key ingredients in the fight against economic crime, and your ability to emerge stronger will depend on your organisation’s response to incidents, before, during and after they occur.

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Trevor Hills

Trevor Hills

Partner, PwC South Africa

Tel: +27 (0) 11 797 5526