<p><strong>By Janice Kew</strong></p>.<p>South Africa has been bumped off the top of the naughty list when it comes to economic crime by India and China, according to a global survey by PwC.</p>.<p>“China and India have emerged as economic powerhouses, but with fast-growing economies such as these being subject to concentrated attacks, the global impact is magnified,” PwC said in its Global Economic Crime and Fraud Survey released on Tuesday.</p>.<p>At least 69% of the respondents in India had experienced fraud or an economic crime over a 24-month period, compared with 60% for China and South Africa, and a global average of 47%, the survey showed. India hadn’t featured in the top 10 before, PwC said.</p>.<p>While Africa’s most industrialized economy improved from 77% in the previous survey, the incidence of higher-value serious economic crime doubled to 2%. “There has also been a disturbing increase in the level of involvement of senior management as the main perpetrator, escalating from 20% in 2018 to 34% in 2020,” PwC said.</p>
<p><strong>By Janice Kew</strong></p>.<p>South Africa has been bumped off the top of the naughty list when it comes to economic crime by India and China, according to a global survey by PwC.</p>.<p>“China and India have emerged as economic powerhouses, but with fast-growing economies such as these being subject to concentrated attacks, the global impact is magnified,” PwC said in its Global Economic Crime and Fraud Survey released on Tuesday.</p>.<p>At least 69% of the respondents in India had experienced fraud or an economic crime over a 24-month period, compared with 60% for China and South Africa, and a global average of 47%, the survey showed. India hadn’t featured in the top 10 before, PwC said.</p>.<p>While Africa’s most industrialized economy improved from 77% in the previous survey, the incidence of higher-value serious economic crime doubled to 2%. “There has also been a disturbing increase in the level of involvement of senior management as the main perpetrator, escalating from 20% in 2018 to 34% in 2020,” PwC said.</p>