Fraud decreases in Africa - KPMG report

However, the contradiction lies where the value of these recorded fraud cases increased from US$2 billion (P16 billion) to US$4 billion (P32 billion) in the same period. The report shows that although fewer fraud cases are being reported, they are high in monetary values. 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 (P24 Billion), an increase of 50%.

This latest KPMG Africa Fraud Barometer shows that governments remain the hardest hit by fraud and corruption at 30 percent, a decrease of eight percent from the previous reporting period. It shows that most of the reported cases relate to general fraud and misrepresentation at 45 percent, an increase of seven percent from the previous reporting period.