ENUGU, Nigeria (VOICE OF NAIJA)- A new research by Proxyrack has revealed that Nigeria is ranked third among top 10 countries with the highest number of reported cases of occupational fraud recorded in industry in 2022.
On the other had, South Africa makes second on the ranking list with 188 cases followed by Nigeria with 61 cases.
The research stated that Nigeria comes behind the United States of America (USA) which has 625 and highest reported cases globally.
In its industry fraud index report, the data company stated that different job sectors recorded an estimated global loss of $3.6 billion in 2022 alone, due to a sharp rise in fraudulent activity over recent years.
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According to the report, cases of fraud recorded from Nigeria are banking-related, adding that industry of transportation and warehousing takes the top spot in this list of sectors with the biggest increase in fraudulent cases globally.
“Completing this top three list of the countries with the highest number of fraudulent cases is Nigeria. Located in West Africa, this country has seen its fair share of fraud in the last year, totalling 61 cases throughout 2022. Similarly to the second-place entry on this list, the most reported cases of fraud in this country are related to banking fraud in which scammers attempt to make some quick cash,” the research says.
“There has been a 20.59 per cent increase in fraud cases between 2016 and 2022; common types of fraud in the industry include falsifying delivery documents and posing as an authentic carrier to help assist criminals in stealing cargo loads.
“The real estate industry is losing the most money as a result of fraud, with a 117.50 per cent change in financial losses since 2016.
“64 per cent of all fraud cases in the energy industry are as a result of corruption, followed by the manufacturing industry (59 per cent) and the transportation and warehousing industry (59 per cent),” the research added.