Procurement fraud is one of the most widespread and
pernicious forms of white-collar crime in South Africa today.
PricewaterhouseCoopers (PwC) Global Economic Crime Survey for 2014 shows that
it is the second-most consistently reported type of fraud in the country,
accounting for 29% of economic crimes committed.
A full 69% of South African companies taking part in the
survey said they had experienced economic crime within the past two years – of
those, 59% reported procurement fraud, which is much higher than the global
average of 29%.
Senior and middle management appear to be the main perpetrators
of internal crimes within organisations. The typical fraudster tends to be
male, between 31 and 40 years of age, who has worked at a company for 10 or
more years and has at least one university degree. Despite this, many companies
do not carry out fraud risk assessments, leaving their businesses vulnerable.
What is procurement fraud and how does it affect an
organisation?
Procurement fraud is essentially any fraud that occurs
within the procurement lifecycle of a product or service, including the
processes of buying, selling, paying, collecting, sourcing and managing the
supply chain. Types of fraud include collusion between suppliers, creating
shell companies to make fraudulent payments, bid rigging or splitting and
issuing invoices for products and services for non-existent suppliers. Vendor
selection tends to be the most targeted step in the procurement process, though
all steps are vulnerable to fraud.
Any industry can be affected, but the PwC survey indicates
that the worst-affected industries in South Africa are engineering,
construction, energy, utilities, mining and government or state-owned
enterprises. We are one of the biggest global losers when it comes to economic
fraud, recording losses of between R10 million and R1 billion. Because procurement fraud is complex and can be committed in a variety of ways, investigating it requires experience, caution and discretion.
Private investigator Patrick de Marco has investigated instances of procurement fraud throughout South Africa, most notably in Johannesburg, Cape Town and Durban, and can assist you in detecting and prosecuting fraudsters. Adopting a zero-tolerance approach to procurement fraud is crucial as it deters tomorrow’s fraudsters today. Private investigator Patrick de Marco’s team of experts, based in Johannesburg, Cape Town and Durban, is able to assist you with your confidential investigations.
With a Global Intelligence Gathering Footprint, Services on Offer Include:
Patrick de Marco (private investigator) supplies a highly confidential service to upmarket individuals, celebrities and company executives in South Africa. He undertakes exclusive private investigations in Johannesburg, Cape Town, Durban, East London, Port Elizabeth, George, Bloemfontein, Pretoria and in most of the metropolitan areas in South Africa.
His national intelligence gathering network of private investigators and private detectives (in pursuit of excellence) can activate confidential private investigations anywhere in South Africa within a couple of hours. These private investigations and surveillance services include the investigation of a variety of civil and criminal matters in South Africa and environs.
We do not supply references at all. Our client base remains strictly confidential. We respect non-disclosure agreements, and we guarantee professionalism, integrity, dedication and confidentiality. All rights are reserved.
National investigative assignments can be activated anywhere in South Africa or abroad within 02:00 hours of mandate and instructions received.
Call +27 84 677 8731 (International GMT + 02:00 hours)
Call 084 677 8731 (South Africa)
With a Global Intelligence Gathering Footprint, Services on Offer Include:
- Civil and criminal intelligence gathering,
- Counter industrial espionage,
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- Procurement fraud investigations,
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Private Investigators in Pursuit of Excellence
Patrick de Marco (private investigator) supplies a highly confidential service to upmarket individuals, celebrities and company executives in South Africa. He undertakes exclusive private investigations in Johannesburg, Cape Town, Durban, East London, Port Elizabeth, George, Bloemfontein, Pretoria and in most of the metropolitan areas in South Africa.
His national intelligence gathering network of private investigators and private detectives (in pursuit of excellence) can activate confidential private investigations anywhere in South Africa within a couple of hours. These private investigations and surveillance services include the investigation of a variety of civil and criminal matters in South Africa and environs.
References
We do not supply references at all. Our client base remains strictly confidential. We respect non-disclosure agreements, and we guarantee professionalism, integrity, dedication and confidentiality. All rights are reserved.
National investigative assignments can be activated anywhere in South Africa or abroad within 02:00 hours of mandate and instructions received.
Call +27 84 677 8731 (International GMT + 02:00 hours)
Call 084 677 8731 (South Africa)
