Corruption in SA: How businesses enable corruption through weak due diligence.
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GUEST – Christopher Malan – Executive Manager at Financial Intelligence Centre
Corruption in South Africa doesn’t stop when the money is stolen, it continues when that money is spent. From luxury cars to multimillion-rand homes, too many businesses turn a blind eye to the source of funds, allowing the corrupt to clean their money through legitimate transactions.
The SIU’s recent findings at Tembisa Hospital, where over R2 billion was siphoned through fake suppliers, show just how easily stolen state money finds its way into private assets. And while the SIU works to recover those funds, the question remains: why are car dealers, estate agents, and other businesses still selling to the corrupt?
Corruption in South Africa doesn’t stop when the money is stolen, it continues when that money is spent. From luxury cars to multimillion-rand homes, too many businesses turn a blind eye to the source of funds, allowing the corrupt to clean their money through legitimate transactions.
The SIU’s recent findings at Tembisa Hospital, where over R2 billion was siphoned through fake suppliers, show just how easily stolen state money finds its way into private assets. And while the SIU works to recover those funds, the question remains: why are car dealers, estate agents, and other businesses still selling to the corrupt?
