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In the past 20 years, threats and incidents of terrorism have grabbed global headlines and urged nations to step up laws against not only the act but also the financing of terrorist activities. In South Africa more recently, the spotlight fell on the threat of terrorism after a spate of incidents in which alleged bombs were placed in shopping centres around Durban.
Procurement fraud can be committed by employees acting alone or in collusion with vendors. While fraudulent activities between suppliers/vendors and employees are not uncommon, these transactions are unacceptable as they create a host of challenges to the business if allowed to continue under the radar.
There are many takeouts from Transparency International’s 2017 Corruption Perceptions Index (CPI), released in February 2018. Not only does the report reveal last year’s rankings of the world’s most corrupt countries, it also gives a glimpse into countries that carry low corruption burdens – from which many lessons can be learned.