Combating Fraud in Zimbabwe. A case of Econet Bindura · Electronic Theses and Dissertations

Author: Shoko, Talent
Title: Combating Fraud in Zimbabwe. A case of Econet Bindura
Abstract: Internal fraud is a significant threat to many Zimbabwean companies. Internal fraud is causing excruciating effects in most organizations., According to (Mary Taruvinga, 2018) Econet Zimbabwe suffered a million loss due to the theft of funds intended for a firm project by a top executive. The main aim of this study was to look into the strategies used in combating fraud in organization. The research study was guided by the following objectives, to determine the effectiveness of strategies of combating fraud, to assess factors affecting effectiveness of strategies of combating fraud, to identify forms of fraud activities at Econet Bindura and to recommend appropriate measures to combat fraud in Zimbabwe. The researcher used descriptive research design as a way to look into the effective ways used by organizations in combating fraud. The researcher used questionnaires and interviews as a way to collected data from the respondents. The researcher used a sample size of 50 respondents primarily working at Econet in Bindura. According to the research findings it was noted that companies encounter quiet number of fraud cases such as check tempering, fraudulent financial statement and expense reimbursement and asset misappropriation. The factors affecting effectiveness of strategies of combating fraud were weak internal control, lack of moral direction from senior management and complexity organization structure. Basing on the research findings effective strategies of combating fraud are whistle blowing, use of code of conduct, following corporate governance ethics and use of audit. Also the ways of combating fraud were whistle blowing culture, use of internal control, use of job rotation, asking proof before signing checks and use of hot-lines to report unethical behavior at work place. In conclusion it was concluded that to Effectively combat fraud it requires a comprehensive approach that includes incorporating a whistle blowing culture, implementing a code of conduct, adhering to corporate governance ethics, and engaging the audit department in oversight and validation. Also as recommendation there is need to set up effective internal control system to minimize cases of fraud at the organization.
Date: 2024
Publisher: BUSE
Keywords: Fraud ,Econet Bindura, Zimbabwe
Supervisor: NIL

Item sets: Department of Intelligence and Security Studies

Media: SHOKO TALENT.pdf