Nigeria has been ranked third among top 10 countries with the highest number of reported cases of occupational fraud recorded in industry for the year 2022.
This is according to a new research by
Proxyrack, stating that the country comes behind the United States of America
(USA) which has 625 and highest reported cases globally while South Africa
makes second on the ranking list with 188 cases followed by Nigeria with 61
cases.
The data company, in its industry fraud index
report, 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.
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% 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% change in financial losses since
2016.
“64% of all fraud cases in the energy
industry are as a result of corruption, followed by the manufacturing industry
(59%) and the transportation and warehousing industry (59%),” the research
added.
|
Rank |
Country |
Continent |
Number of Cases |
|
1 |
United States |
North America |
|
|
2 |
South Africa |
Africa |
188 |
|
3 |
Nigeria |
Africa |
61 |
|
4 |
United Arab Emirates |
Asia |
60 |
|
5 |
Canada |
North America |
50 |
|
6 |
Kenya |
Africa |
49 |
|
7 |
Australia |
Oceania |
38 |
|
8 |
China |
Asia |
33 |
|
9 |
Saudi Arabia |
Asia |
29 |
|
10 |
Greece |
Europe |
27 |
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