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.
PwC's 2018 Global Economic Crime and Fraud Survey finds that 49% of global organisations say they've experienced economic crime in the past two years. But what about the other 51%?