Rwanda’s first economic crime and fraud survey released
PricewaterhouseCoopers has released Rwanda’s initial edition of the economic crime and fraud survey. The report shows Rwanda’s economic crime average at 47 per cent, compared to 64 per cent in East Africa.
Wed, 07 Mar 2018 14:35:38 GMT
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AI Generated Summary
- Rwanda demonstrates a lower prevalence rate of economic crimes compared to its East African peers, showcasing the country's proactive measures in combating fraudulent activities.
- Bribery and corruption are highlighted as one of the most prevalent economic crimes in Rwanda, with the government's efforts contributing to a lower prevalence rate in the country.
- The impact of economic crimes on the national economy is significant, with organizations reporting substantial financial losses, underscoring the need for continued vigilance and anti-fraud measures.
Rwanda has recently made strides in the fight against economic crime and fraud, as highlighted in the latest survey conducted by PricewaterhouseCoopers. The Global Economic Crime and Fraud Survey is a comprehensive report conducted every two years by PwC around the world. This year, the spotlight is on Rwanda as the country has reached a critical mass of responses, enabling the compilation of a country-specific report for the first time. With 7,000 responses from 123 countries, Rwanda is among the 54 nations that met the threshold for an individual report. The respondents, drawn from various sectors including the private and public sectors, shed light on the prevalence of economic crimes in the country. According to the survey findings, Rwanda has shown a lower prevalence rate of economic crimes compared to its East African peers. While the global average stands at 49% and the East African average at 64%, Rwanda's rate is at 47%. This commendable performance reflects positively on the nation's efforts to curb economic crimes. The report indicates that one of the most prevalent economic crimes in Rwanda is bribery and corruption, with a prevalence rate of 21%. This figure is notably lower than the East African average, with countries like Kenya recording a rate of 36%. The lower prevalence of bribery and corruption in Rwanda speaks to the government's efforts in providing an enabling environment for organizations to operate within the country. The impact of economic crimes on the national economy is significant, with a notable percentage of organizations reporting losses of $25,000 USD or more to economic crime. These losses can have detrimental effects on businesses and the overall economy. Despite the challenges posed by economic crimes, Rwanda's proactive steps in addressing these issues are evident in the survey results. Moving forward, continued efforts to raise awareness and strengthen anti-fraud measures will be crucial in sustaining this positive trend.
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