Pleading ignorance of corruption or money laundering in your company is tantamount to admitting guilt.
A key recommendation from the State Capture Commission has now been signed into law. making individuals criminally accountable if they have not taken steps or acted in a way that prevents corruption. Section 34A of PRECCA (Prevention of Corruption and Combating of Crime Act) ‘invites’ companies to revisit their compliance processes and policies, as ignorance is no longer bliss but criminal.
MUBESKO AFRICA’s Smartryk Calitz encourages executives to ask telling questions.
- Do I fully grasp the concept of failure to prevent corruption and money laundering?
- Do I fully understand the extent of risk to the company?
- Have I completed a thorough risk analysis?
- Have I built comprehensive awareness among staff, contractors, and sub-contractors?
“If we are serious about managing the scourge of corruption and money laundering in South Africa, those empowered to do so – typically managing directors and chief accounting officers – need to play their role in making a difference”.
Contact MUBESKO AFRICA to assess your compliance policies and processes, identify areas of weakness, develop a communications programme to improve awareness and understanding, and help you to activate measures to reduce risk.
Smartryk Calitz
Head of Forensics
RGA CGMAP CFE
smartryk@mubesko.co.za
mubesko.co.za
Smartryk was honoured as South Africa’s Certified Fraud Examiner of the Year 2023 by the ACFESA’s (Association of Certified Fraud Examiners, South African Chapter).