Namibia will for first time take part in WFAW

WINDHOEK: Namibia will for the very first time take part in the International Fraud Awareness Week (WFAW) in Windhoek today.

It is a week dedicated to fraud awareness, detection and prevention, and aims to engage people all over the globe in efforts to minimize the impact of fraud by promoting anti-fraud awareness and education.

It is organised under the auspices of the local chapter of the Association of Certified Fraud Examiners (ACFE), and discussions will include sharing information on fraud and fraud-related issues to individuals and businesses.

Jolande Botha, SICS public relations’ officer in an interview with Nampa yesterday said that fraud has a huge negative effect and impact on the community, saying that there are millions of Namibian dollars involved.

Fraud is a deception deliberately practiced in order to secure unfair or unlawful gain.

A report released earlier this year by Ernst and Young Namibia highlighted that 76 per cent of participating businesses indicated that they suffered incidents of fraud and corruption over the past three years, and 64 per cent of the companies feel their businesses are not protected enough against fraud and corruption.

Brigitte Kisting, manager for Fraud Investigation and Dispute Services at Ernst and Young Namibia, said fraud is committed once there are factors like pressure, justification and an opportunity.

She advised business owners to ensure that they are not victims of fraud.