Significant threat of fraud facing Sub-Saharan Africa
James Thorpe
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According to the World Security Report published by G4S, fraud is expected to be a bigger external threat in Sub-Saharan Africa next year than in any other region in the world.
Key findings
The World Security Report features the perspectives of 1,775 Chief Security Officers (CSOs) from 30 countries – 166 CSOs of those surveyed were operating in Sub-Saharan Africa.
The research has found that external fraud is predicted to be experienced by 34% of those surveyed.
This is well above the global average of 25%, with Kenya likely to be the most impacted in the world 41%.
Economic unrest is also set to impact the region more than any other in the world and on par with Asia Pacific, according to 52% of CSOs.
Nigeria looks set to be the most impacted in the region at 59% and second globally after Japan (66%).
Companies are also anticipating a surge in activity from economic criminals, with 53% reporting they view this group as a genuine security threat over the next 12 months.
“Leaders will need to be vigilant”
Mel Brooks, Regional CEO, G4S Africa & Middle East said: “Africa is one of the fastest growing regions in the world and as companies grow they are faced with multiple challenges both inside and outside their businesses.
“Focusing on robust processes and early warning security systems will help with preparedness and the ability to tackle the challenges they face.
“Economic unrest creates security pressures in many forms and leaders will need to be vigilant and innovative in tackling these, through the use of well designed security programs that combine good situational security intelligence, the right people and security technology.”
World Security Report 2023
This research is an independent, anonymous survey of 1,775 CSOs, or those in equivalent roles, from large, global companies in 30 countries, with a combined annual revenue of more than $20 trillion in 2022, representing a quarter of the world’s total Gross Domestic Product (GDP).
To find out more about these findings, visit: www.worldsecurityreport.com
