Government has been urged to support the private sector in the fight against white collar crime which doubled in just less than six years.
Speaking at the official opening of the White Collar Crime Summit for Africa in Victoria Falls, the World President of White Collar Crime 101 LLC, Mr. Peter Goldman, said Africa and Asia have the biggest cases of fraud, with corruption accounting for 49% of African cases and 51% of Asian cases.
He said company executives have a tendency of using economic challenges to inflate their organisationâ€™s performance and use other accounting tricks to award themselves bigger bonuses and other financial rewards.
Coordinator of the conference, Mr. Proctor Nyemba, said while every effort has to be made to ensure a zero tolerance on white collar crime, efforts have to be made to guard against fraud in the ongoing indigenisation and economic empowerment programme.
The two-day conference has also focused on Financial Reporting, Anti-Fraud Training and Fraud Auditing.
Its aim is to raise awareness in both government and the private sector on the increasing cases of white collar crime and its impact in the country.