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Showing posts with the label White-collar crime

White-collar crime an impending threat to SA Businesses

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Costing South Africa an estimated R930m a year, commercial and white-collar crime is on the rise in South Africa - especially among senior to top management. Just recently, a business was forced to close its doors after its finance clerk stole over R1 million, thereby impacting its productivity and turnover, and ultimately the entrepreneur, as well as the staff’s livelihood.   Gillian Wolman, Head of Litigation at Risk Benefit Solutions (RBS) , an independent insurance and risk specialists, warns that as economic conditions tighten, more South Africans are struggling to meet their financial obligations thereby increasing temptations of such crimes. “Internal crime is one of the most serious threats to the stability of a company, and despite employers’ efforts to secure assets, the occurrence of these incidents is increasing. “This type of crime does not necessarily occur instantaneously, but often it is a gradual process that, if done meticulously, may only be discovered at a...