Kenya Falls Flat on its Face in a Global Corruption Index

According to PwC report, economic crime is ever-evolving, and becoming a more complex issue for organizations and economies. In Kenya, the incidences of economic crimes rose to 61% from 52% in 2014.
World economic crimes rate stands at 36% while that of Kenya is at a staggering 61%, 25 percent above the global average, a new survey by consultancy firm PricewaterhouseCoopers (PwC) reports.

According to PwC report, economic crime is ever-evolving, and becoming a more complex issue for organizations and economies. In Kenya, the incidences of economic crimes rose to 61% from 52% in 2014 with 72% of respondents saying they had experienced asset misappropriation in their organization.

Although the regulatory landscape is also changing, the report indicates that the change is “bringing with it numerous challenges to doing business.” It further argues that local law enforcement is not necessarily perceived as able to make a material difference, the onus is squarely on the shoulders of the business community to protect itself, and its stakeholders, from economic crime.

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