Economic crime in South Africa is now reported to be at the highest level over a decade.
PwC’s Global Economic Crime and Fraud Survey 2018 finds that economic crime in South Africa continues to disrupt business, with this year’s results showing an increase in reported instances of economic crime in South Africa.
The survey revealed that 77% of South African organisations said that they experienced economic crime in the past two years.
“One may ask the question why is South Africa in this situation,” says Dr Ivan Meyer, the Minister of Finance in the Western Cape.
- despite a Constitution with a comprehensive fundamental framework for creating good governance and promoting ethics and integrity in the public service; and
- despite many laws that regulate public financial management and procurement, that criminalises corruption and that establishes multiple institutions to fight corruption thrives.
“Corruption depletes public resources meant for service delivery and diminishes the realisation of socio-economic rights and promises of the Constitution to housing, health care, food and water, social security and education.
Ultimately corruption erodes our constitutional democracy and contributes to social instability and populism,” said Meyer.
The Minister was speaking at the Development of the National Anti-Corruption Strategy conference in Cape Town.
To read more visit the Western Cape Government website