KPMG has released its findings of the third Africa Fraud
Barometer.
According to the third Africa Fraud 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 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. Nigeria is still the country with the highest value of
reported fraud cases with US$3 billion, an increase of 50%. The
KPMG Africa Fraud Barometer is an initiative that was launched in
April 2012 and is aimed at measuring fraud on the African
continent. It exposes the risk of fraud companies face in their
day-to-day operations. The latest findings of decreasing fraud were
confirmed by the Transparency International
