According to the PricewaterhouseCoopers (PwC) Global Economic Crime survey report published in 2016, economic crimes have seen an upward trend in Zambia in 2016 compared to 2014.During 2014 through 2016, Zambia experienced many tests, both internal and external,that have contributed to this trend.These range from falling copper prices in the world market,reduced rainfall and subsequently lower electricity output, which affected output across all sectors.This had a ripple effect on Zambias economy with the Kwacha plummeting to half its value against the US Dollar.In addition, inflation increased from 7.9 percent to 21.8 percent between September 2015 and January 2016.This economic turmoil sets an environment or opportunity where economic crimes can flourish.The opportunity in itself is a perceived motivation for committing the crimes, as the perpetrator would have identified a loophole in the system or weaknesses in compliance systems, which are perfect for a crime to be committed.However, the perpetrators of economic crimes had much greater motivation than just the opportunity to commit the crime-the outcome.If they perceived financial gain of committing the crimes is higher and the likelihood of facing punishment was lower, they were more likely to commit the crimes.This study therefore, examined theories that explain the concept of how "opportunity makes the thief" and how rational thought guides the decision to commit economic crime.The findings highlight the complexity of punishment effects and twist the current debate on crime and punishment.Firstly, punishment does not deter crime because humans are rational but because humans are bounded rational.Secondly, a change in punishment does not change criminal behavior but changes the interaction between criminals and inspectors.The study concluded that taking a proactive approach to economic crime is critical.Given the current state of the Zambian economy and the sharp increase in the rate of economic crime experienced in Zambia, a bold approach to tackling economic crime is not an option-its an imperative.Keywords: Economic crime; Game theory; Payoff; Zambia