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The Growing global challenge of managing anti-bribery and corruption compliance Companies in the energy and […]
We are living in an era of constant change and unprecedented events. No government, business, or society is immune to change. Whether it’s short-term negative shocks such as natural disasters, social instability; or long-term change opportunities and risks, the only certainty is that there are more change pressures than ever before and they affect all of us.
One of the key challenges facing the country’s development and progress is corruption. According to the Transparency International 2013 Global Corruption Barometer, Kenya is perceived as the 4th most corrupt nation globally.
According to the Fraud Risk Barometer, the occurrence of reported fraud has decreased from 503 in the first half of 2012 to 348 cases in the second half of 2012. It is the third consecutive period where a decrease in reported fraud and corruption …
KPMG has released its findings of the third Africa Fraud Barometer. According to the tool, the occurrence of reported fraud has decreased from 503 in the first half of 2012 to 348 cases in the second half of 2012. It is the third consecutive period where a decrease in reported fraud and corruption related cases can be recorded. In the same period, however, the value of fraud increased from US$2 billion to US$4 billion. About three quarters of all fraud cases in Africa are reported in Nigeria, Kenya, Zimbabwe and South Africa.
Fraud and corruption will always be at the forefront of the minds of those looking to invest in Africa. In this regard, the recently published KPMG Africa fraud Barometer for 2011 reported some telling statistics about reported fraud on the continent. The Barometer was developed “to form a bigger picture of fraud prevalence on the African continent”, incorporating data from available news articles on Africa and other designated databases. The Barometer compares fraud reports from the six months ended June 2011 to the six months ended December 2011.