PwC reports rise in corporate crime rate in the Middle East and Africa

PwC has recently published its Global Economic Crime Survey 2016 which has found that over a third of organisations worldwide reported being victimised by economic crime in the past 24 months. In the Middle East, the proportion of organisations experiencing economic crime has risen from 21% in 2014 to 25% in 2016. In particular, respondents from Saudi Arabia reported that rates of economic crime more than doubled from 11% in 2014 to 24% in 2016. The most commonly reported types of economic crime globally are asset misappropriation, cybercrime and bribery and corruption.