{"id":53346,"date":"2014-02-19T13:03:55","date_gmt":"2014-02-19T11:03:55","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=53346"},"modified":"2014-02-19T13:03:55","modified_gmt":"2014-02-19T11:03:55","slug":"profile-of-a-south-african-fraudster","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/trending\/53346\/profile-of-a-south-african-fraudster\/","title":{"rendered":"Profile of a South African fraudster"},"content":{"rendered":"

South African companies experience more fraud and bribery than their counterparts elsewhere in the world, a survey by PwC has found.<\/p>\n

They were being hit by a higher incidence in every category of economic crime except intellectual property infringement and mortgage fraud, it said in its Global Economic Crime Survey 2014 released on Tuesday.<\/p>\n

Bribery and corruption had been the fastest growing economic crime category in South Africa since 2011.<\/p>\n

The survey found senior management was the main perpetrator of economic crimes committed in the country.<\/p>\n

“Our survey results indicate that the typical internal fraudster is male, aged between 31 and 40, has worked for his employer for more than 10 years, and has acquired a first university degree,” it said.<\/p>\n

“This profile is consistent with South African organisations reporting that senior and middle management commit 77% of all internal fraud.”<\/p>\n

In the survey, 5128 senior businessmen and women from 93 countries participated in an online survey during the fourth quarter of 2013.<\/p>\n

This was the first time since 2005 the prevalence of economic crime had increased in South Africa.<\/p>\n

\"Prevalence<\/a>

Prevalence of economic crime<\/p><\/div>\n

“The latest results show that economic crime remains a serious challenge to business leaders, government officials and private individuals in South Africa.<\/p>\n

“69% of South African respondents indicated that they had been subjected to some form of economic crime in the 24 months preceding the survey, compared to 37 percent of global respondents.”<\/p>\n

The report listed various crimes and the percentages of each crime experienced in the past 24 months in South Africa compared to the rest of the world.<\/p>\n

In the past 24 months, 77% asset misappropriation was experienced in South Africa compared to 69% around the world.<\/p>\n

South Africa experienced 59% procurement fraud in the past two years compared to 29% experienced globally.<\/p>\n

Bribery and corruption stood at 52% in South Africa compared to 27% around the world.<\/p>\n

Human resources fraud was at 42% in South Africa, and 15% globally.<\/p>\n

The report found that the country experienced 14% money laundering, and globally it stood at 11%.\u00a0Tax fraud was at 11% in South Africa, and six percent globally.<\/p>\n

\"Types<\/a>

Types of economic crimes experienced<\/p><\/div>\n

It said South African respondents reported significantly more instances of procurement fraud, bribery and corruption, financial statement fraud and human resources fraud than their global counterparts.<\/p>\n

“In the remaining categories, the distribution of economic crime in South Africa mirrors the global picture,” the report said.<\/p>\n

South African entities took no action in nine percent of cases, opted for transfers in two percent, or warnings in 18% of cases.<\/p>\n

“This is worrying as it suggests that the perpetrators remain within the organisations where they may commit further transgressions,” it said.<\/p>\n

“It is important for organisations to adopt a zero-tolerance approach by dealing with fraudsters in an official and transparent manner, rather than sweeping the problem under the carpet internally.”<\/p>\n

The PwC Global Economic Crime Survey questioned 5,128 senior businessmen and women from 93 countries during the fourth quarter of 2013.<\/p>\n

More on SA crime and corruption<\/h3>\n

Where South Africa\u2019s corruption takes place<\/strong><\/a><\/p>\n

South Africa corruption on the rise<\/strong><\/a><\/p>\n

1 million cyber crime victims in SA<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

South African companies experience more fraud and bribery than their counterparts elsewhere in the world, a survey by PwC has found.<\/p>\n","protected":false},"author":4,"featured_media":53351,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[1334,26,2407],"class_list":["post-53346","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-trending","tag-fraud","tag-headline","tag-pwc"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/53346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=53346"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/53346\/revisions"}],"predecessor-version":[{"id":53352,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/53346\/revisions\/53352"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/53351"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=53346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=53346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=53346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}