http://www.engineeringnews.co.za
  SEARCH
Login
R/€ = 13.29Change: -0.09
R/$ = 11.70Change: -0.05
Au 1207.85 $/ozChange: 1.57
Pt 1174.50 $/ozChange: -1.50
 
 
Note: Search is limited to the most recent 250 articles. Set date range to access earlier articles.
Where? With... When?








Start
 
End
 
 
And must exclude these words...
Close Main Search
Close Main Login
My Profile News Alerts Newsletters Logout Close Main Profile
 
Agriculture   Automotive   Chemicals   Competition Policy   Construction   Defence   Economy   Electricity   Energy   Environment   ICT   Metals   Mining   Science and Technology   Services   Trade   Transport & Logistics   Water  
What's On Press Office Tenders Suppliers Directory Research Jobs Announcements Letters Contact Us
 
 
 
RSS Feed
Article   Comments   Other News   Research   Magazine  
 
 
Sep 04, 2012

‘Dramatic’ increase in white-collar crime in SA

Back
Africa|Environment|Nortons Inc|Africa|South Africa|Law|David Lewis|John Oxenham|Willie Hofmeyr
Africa|Environment||Africa|||
africa-company|environment|nortons-inc|africa|south-africa|law|david-lewis|john-oxenham|willie-hofmeyr
© Reuse this



White-collar crime was on the rise in South Africa, with a “dramatic increase” seen in the number of cases in recent years, law firm Nortons Inc director John Oxenham said on Tuesday.

Speaking at the White Collar Crime and Corruption seminar, which Nortons and the South African Chamber of Commerce and Industry hosted, he said fraud and corruption in the public and private sectors were widely regarded as two of the biggest threats to the South African economy, its ability to attract foreign investment and achieve economic growth.

South Africa is now ranked 64th out of 182 countries on Transparency International’s corruption index. “We have been sliding for a number of years owing to the rampant corruption involving business and government,” Oxenham said.

He pointed out that many companies did not have proper internal controls, which would bring to a halt corrupt activities. “Unfortunately in today’s economic environment, the first element to be cut for cost saving is internal control, which is often problematic. In international legislation, having adequate internal control is actually a significant mitigating factor against the imposition of sanctions itself,” he said.

Oxenham added that whistleblowers also had to be properly incentivised and protected.

Corruption Watch director David Lewis agreed, stating that public participation was key to combatting corruption and anticompetitive collusion.

“We need to encourage the public to resist corruption and we need to create an environment that is less conducive to such activities, by advocating for policies and legislation that facilitate whistleblowing, effective policing and consequences for those who are found to be guilty of such crimes,” he noted.

Lewis, who is the former chairperson of the Competition Tribunal, pointed out that corruption bred deep mistrust on the part of the public regarding both the business and governmental sectors. “Corruption slows economic growth and job creation, and disproportionately affected the poor.”

Meanwhile, he said that it was relatively easy to understand that handing over a proverbial brown envelope in exchange for example, a government contract was corrupt. But Lewis said that grey areas, such as conflict of interest; and the nature, purpose and outcome of nepotism in appointments were harder to grasp.

Asset Forfeiture Unit of the National Prosecuting Authority head Willie Hofmeyr said that the work done by government's anti-corruption task team (ACTT) was encouraging. He explained that the ACTT was an inter-agency task team that focused on the so-called “big fish” with income from corrupt activities in excess of R5-million.

The ACTT had already frozen assets to the tune of R550-million and had charged and convicted 16 criminals in the past two years.

Lewis added that Corruption Watch has, in the past six months, received over 2 200 reports of alleged corruption, many of which are currently being investigated.

The consensus of the seminar was that the tone for proper conduct had to be set by leadership in business, government and labour in order to fight corruption, otherwise the existing legislation aimed at fighting corruption would prove largely ineffectual.
 

Edited by: Mariaan Webb
© Reuse this Comment Guidelines (150 word limit)
 
 
 
 
 
 
 
 
 
Latest News
Updated 4 hours ago Transport equipment manufacturer GE Transportation has appointed Thomas Konditi as the head of its sub-Saharan Africa division. Konditi, who would be based in Johannesburg, was most recently COO of GE Africa, in Nairobi. His responsibilities included the oversight of...
Updated 5 hours ago Trade union Solidarity has criticised the Nuclear Energy Corporation of South Africa (Necsa) for continuing with a restructuring process, which the union claims results in employees being demoted, without consulting with Solidarity about the process. Solidarity...
Updated 5 hours ago As Proudly South Africa (SA) moves to encourage local procurement to bolster small and medium-sized enterprises (SMEs), the newly established Department of Small Business Development (DSBD) aims to boost these enterprises’ contribution to gross domestic product (GDP)...
More
 
 
Recent Research Reports
Construction 2015: A review of South Africa’s construction sector (PDF Report)
Creamer Media’s Construction 2015 Report examines South Africa’s construction industry over the past 12 months. The report provides insight into the business environment; the key participants in the sector; local construction demand; geographic diversification;...
Liquid Fuels 2014 - A review of South Africa's Liquid Fuels sector (PDF Report)
Creamer Media’s Liquid Fuels 2014 Report examines these issues, focusing on the business environment, oil and gas exploration, the country’s feedstock supplies, the development of South Africa’s biofuels industry, fuel pricing, competition in the sector, the...
Water 2014: A review of South Africa's water sector (PDF Report)
Creamer Media’s Water 2014 report considers the aforementioned issues, not only in the South African context, but also in the African and global context, and examines the issues of water and sanitation, water quality and the demand for water, among others.
Defence 2014: A review of South Africa's defence industry (PDF Report)
Creamer Media’s Defence 2014 report examines South Africa’s defence industry, with particular focus on the key participants in the sector, the innovations that have come out of the sector, local and export demand, South Africa’s controversial multibillion-rand...
Road and Rail 2014: A review of South Africa's road and rail infrastructure (PDF report)
Creamer Media’s Road and Rail 2014 report examines South Africa’s road and rail transport system, with particular focus on the size and state of the country’s road and rail network, the funding and maintenance of these respective networks, and the push to move road...
Real Economy Year Book 2014 (PDF Report)
This edition drills down into the performance and outlook for a variety of sectors, including automotive, construction, electricity, transport, steel, water, coal, gold, iron-ore and platinum.
 
 
 
 
 
This Week's Magazine
Walter Hill
Updated 5 hours ago Eqstra Holdings was going to reduce its exposure to contract mining, but it was not yet ready to sell the troubled business, said CEO Walter Hill on Tuesday. He said Eqstra would not sell its contract mining business in a “depressed market”. He said it would be...
Subscribe to Engineering News and Mining Weekly for two years, but only pay for the first year.  The weekly editions of Engineering News and Mining Weekly will be posted to your preferred postal address and also gain access to:
National flag carrier South African Airways (SAA) is in an advanced stage of renegotiating its deal with European airliner manufacturer Airbus to acquire A320 single-aisle (or narrow body) aircraft. The aim is to replace ten of the aircraft still on order with five...
Worldwide, the main thrust in the ports industry over the past decade or more has been to increase efficiency. Traditionally, ports have been run by engineers and mariners and, in the past, increasing a port’s capacity was achieved by expanding the harbour. “That has...
What do you do when an elephant has a toothache? You call Dr Gerhard Steenkamp from the University of Pretoria’s (UP’s) faculty of veterinary science, Onderstepoort, one of only two elephant ‘dentists’ in the world.
 
 
 
 
 
 
 
 
 
Alert Close
Embed Code Close
content
Research Reports Close
Research Reports are a product of the
Research Channel Africa. Reports can be bought individually or you can gain full access to all reports as part of a Research Channel Africa subscription.
Find Out More Buy Report
 
 
Close
Engineering News
Completely Re-Engineered
Experience it now. Click here
*website to launch in a few weeks
Subscribe Now for $96 Close
Subscribe Now for $96