The 2022 Economic Crime and Fraud report has revealed that at least six out of 10 organisations and businesses in Uganda have fallen prey to economic crime and fraud over the last two years.

The findings, which are part of the PwC Global Economic Crime and Fraud Survey 2022 for eastern Africa, also note that the increase in economic crime is not unique to Uganda but is well spread across East Africa.

Presenting the report in Kampala last week, Mr Muniu Thoithi, the PwC advisory and forensics leader for eastern Africa, said businesses had reported a disturbing rise in economic crime, which calls for urgent interventions before the situation gets of out hand.

“A concerning 63 percent of eastern Africa respondents had experienced fraud within their organisation,” the report indicates, noting that the findings are way above the 46 percent global rate, which unlike eastern Africa, has been reducing.

Mr Thoithi noted that organisations in eastern Africa, including Uganda, had reported higher incidences of customer fraud, asset misappropriation, procurement fraud, bribery and supply chain fraud.

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