As the world marks International Fraud Awareness Week (16–22 November, 2025), Forvis Mazars South Africa warns that despite more sophisticated compliance systems, occupational fraud and corruption in sub-Saharan Africa remain at alarmingly high levels – and are becoming increasingly digital.
According to the ACFE Report to the Nations 2024, corruption accounts for 59% of reported fraud cases in sub-Saharan Africa, considerably higher than the global average of 48%. “Corruption remains endemic, but what’s changed is the way it’s executed. We’ve moved from brown envelopes to hacked emails. The tools are modern, but the motive remains the same,” says Keeran Madhav, director of forensics and cybersecurity at Forvis Mazars.
The new data paints a worrying picture: traditional schemes such as bribery, kickbacks and over-invoicing are now enabled through online banking systems, digital payment platforms and digital assets remotely. “The advent of digital finance has made it easier to disguise fraud. You no longer need a suitcase of cash – a few clicks can transfer millions,” he adds.
Yet, despite technological progress, nearly half of all global fraud cases (49%) result in no recovery of losses. “That’s a staggering figure. It shows that while detection systems are improving, restitution is lagging behind,” notes Madhav.
Web-based and email tip-offs have now overtaken telephone hotlines as the primary means of reporting fraud – a clear indicator that whistleblowing and detection have entered the digital age.
Contrary to popular belief, white-collar crime is not a product of poverty or unemployment. The ACFE study found that two-thirds of perpetrators hold university degrees, and 74% are male. “Fraud is not born of desperation – it’s often driven by opportunity and rationalisation. It’s about ethical bankruptcy rather than financial necessity.”
Furthermore, cases involving collusion between insiders and third parties result in losses three times higher than cases involving single perpetrators. This finding underscores how organisational culture, not just technology, plays a critical role in fraud prevention.
“While we can implement the best digital controls in the world, without a business culture of integrity, those controls are only as strong as the weakest employee,” says Madhav.
While cryptocurrency fraud still represents a small portion of overall cases – just 4% globally – its influence is rapidly expanding. Of those crypto-related frauds:
- 47% involved perpetrators converting stolen assets into cryptocurrency for money laundering
- 33% involved bribes or kickbacks paid in cryptocurrency
- 29% included misappropriation of organisational cryptocurrency assets
- 22% included manipulation of reported cryptocurrency assets on the financial statements
“It may sound like a small percentage, but the trendline is steep,” Madhav cautions. “As digital assets mature, we expect to see more fraud moving into unregulated or semi-regulated crypto channels.”
The issue, he adds, isn’t just detection but traceability: “Once funds enter decentralised systems, recovery becomes nearly impossible. That’s why prevention and ethical governance are more vital than ever.”
The 2024 ACFE report highlights how sub-Saharan Africa continues to outpace global averages for corruption-related fraud. Detection still relies heavily on tip-offs and whistleblowing, with internal audits playing a secondary role. Despite efforts by both public and private sectors, corruption schemes remain the dominant form of occupational fraud, followed by asset misappropriation and financial statement manipulation.
Adding to the challenge is South Africa’s 46.1% youth unemployment rate, released in the 2024 Labour Force Survey. While high unemployment may contribute to certain categories of crime, Madhav reiterates that occupational fraud is primarily a problem within organisations. “These are not crimes of need. They are crimes of access and rationalisation – employees or executives exploiting internal weaknesses.”
Madhav believes that fighting modern fraud requires a dual approach: strong digital controls and a culture of accountability. He urges businesses to use Fraud Awareness Week to reassess internal governance structures and invest in employee training around ethics, cyber hygiene and digital compliance.
“Fraud may have evolved, but the solutions remain the same: vigilance, transparency and integrity. We cannot afford complacency when nearly half of global cases end with no recovery. Technology has not eliminated fraud – it has amplified it. Fraud Week reminds us that while the criminals are innovating, so must we,” says Madhav.