How to fight fraud, corruption through culture transformation

Achieving an ethical culture, increasing the ability to detect and respond to cases of economic crime and by strengthening internal controls are key in fighting economic crime. [iStockphoto]

Various studies and commentaries point to an ongoing erosion of our value systems that manifests in increased economic crime in our region. Surveys such as the PwC Global Economic Crime Survey and the recently released Transparency International Corruption Perception Index point to a worrying state of the East African region.

Economic crime at an institutional level is generally fought through three broad means: Achieving an ethical culture, increasing the ability to detect and respond to cases of economic crime and by strengthening internal controls.