Commercial crimes affect investor confidence

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Commercial crimes are continuing to affect investor confidence in South Africa. A data analysing company, Statistica, found that in the 20222023 financial year, more than 112,000 commercial crimes were reported.

These included fraud and theft.

Claims Handler at Multinational insurance firm, Allianz, Mukondeleli Masiza, explaining some of the measures being taken to fight such crimes, says, “People often think that the main contributor is because the country is facing tough economic conditions and that many South Africans can barely make ends meet. But if you look at the values involved, the financial values involved in individual cases. It’s not difficult to see that the theft and fraud are not being perpetrated by people trying to make ends meet. This is very different from when somebody walks into a store and steals a loaf of bread,” adds Masiza.