A recent survey report issued by a leading financial management consultancy found that more than 60% of South African companies have been victims of economic crime – way above the global average of less than 40%.
The survey also found more than 50% of the economic crimes encountered in South Africa are directly attributed to bribery and corruption.
South Africa currently ranks high on a list of 174 countries rated as “highly corrupt” in a perception index issued by Transparency International.
Although the ongoing Zondo Commission of Enquiry into State Capture has tended to create a perception that corruption is confined to the public sector in South Africa, it is widely accepted that this practice permeates all sectors of the national economy.
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