As the world deals with the COVID-19 pandemic, organisations, governments, law enforcement, regulators monitoring and or overseeing fraud controls in organisations, are all preoccupied with efforts to manage the effects of the pandemic as well as the spread of the virus, to temporarily worry about fraud. That creates a perfect storm where it is a great time for the fraudsters
In South Africa’s first contested excessive pricing case in the context of COVID-19, the Competition Tribunal (“the Tribunal”) found Babelegi Workwear and Industrial Supplies CC (“Babelegi”), a Pretoria-based company, guilty of excessive pricing of dust masks between 31 January 2020 to 5 March 2020 (“the complaint period”). The Tribunal, in its Order and Reasons, found that Babelegi contravened section 8(1)(a) of the Competition Act …
The Q&A gives a high level overview of matters relating to corporate fraud, bribery and corruption, insider dealing and market abuse, money laundering and terrorist financing, financial record keeping, due diligence, corporate liability, immunity and leniency, and whistleblowing
Corporations cannot be held criminally liable under South Africa’s common law. Further, South Africa has no separate legislation that specifically deals with corporate manslaughter (homicide).