How Can Commercial Law Attorneys Protect Your Business?
PricewaterhouseCoopers provides The Global Economic Crime Survey and has provided information regarding the current trends and hotspots of economic crime in this survey. As of present South Africa, unfortunately, suffers one of the highest rates of economic crime in the world.
When compared to the international average as well as that of other states in Africa, the average rate of economic crime in South Africa doubles that of these countries. According to PricewaterhouseCoopers, this is a ‘pandemic’ and as much as a third of upper-management in a number of corporate businesses have experienced economic crime in one or another form.
Asset misappropriation is the most common form of economic crime internationally while other forms of crime such as cybercrime as well as bribery are also common. There has been so much publicity in recent years about corruption in South Africa and we would, therefore, think that corruption is the most common crime here, but this is not the case. Human Resource crime is at its worst in South Africa. Matric certificates of more than a quarter of employees cannot be confirmed. Another alarming state of affairs is the fact that one in 15 employees have a falsified tertiary degree or certification. It is customary for new staff to supply their qualifications to the Human Resource departments when hired, but the studies suggest that a shocking number of employees in South Africa do not have the correct qualifications.
There are many services available on the market that can help businesses prevent fraud and even Human Resource crimes like that of forged qualifications. People in the field of risk management and auditing suggests that businesses should be proactive with regards to the crimes that plague South African companies.
Our clients who require our services with regards to commercial law must ensure that they have employed measures that help them prevent economic crimes within their businesses. The importance of the scope and damage that economic crime inflicts on the South African economy, should be understood by our clients in order for them to protect themselves accordingly.
If you require the services of professional commercial law attorneys, then make sure you contact Joselowitz & Andrews Attorneys as soon as possible.