Forensic auditors look out for an excessive lifestyle featuring properties or vehicles, but this is no conclusive proof of illicit activity
The DA-led Western Cape provincial government will soon invite independent service providers to bid for a tender to conduct lifestyle audits for all provincial MECs.
Western Cape premier Alan Winde, who was sworn into office last week, said members of his cabinet will undergo lifestyle audits at the start and end of their terms. “Often the properties are bond-free, which begs the question as to how the capital was raised for the acquisition. Many fraudsters accumulate portfolios of properties and launder the stolen funds by purchasing properties and renting these out, thereby generating ‘clean’ money,” he said.
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