Businesses in Eastern Africa must act quickly to avert increasing cases of economic crimes and fraud that threaten their existence, the Global Economic and Crime Survey by renowned international audit firm, PricewaterhouseCoopers ( PwC) has recommended. The 2022 survey revealed that 63% of respondents in Eastern Africa said they had experienced fraud within their organization, against 46% of respondents globally. For instance, at least 23% of respondents in Eastern Africa reported that they had lost between $ 100,000 and $1 million in the last two years to fraud. Evolving face of economic crimes Yet the more worrying discovery is the…
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