International Fraud Awareness Week 2025

International Fraud Awareness Week is a strategic checkpoint for leaders committed to safeguarding trust. Fraud prevention isn't just about smarter systems or tighter controls. It's about building a culture where integrity is instinctive and accountability is shared.

Fraud is industry‑agnostic and evolves at the speed of business. Our strongest defense is awareness—empowering people to speak up early—backed by clear reporting mechanisms and data‑led vigilance. A combination of three factors is crucial:
 

• a culture where speaking up is safe,
• governance that assigns real accountability, and
• technology that turns data into early warning.
   

Most breakdowns don’t start with a headline—they start with small anomalies that go unreported or unanswered. We must equip teams to recognise red flags, use analytics to detect patterns in real time, and rehearse our response so decisions aren’t made on hunches. When this is done consistently, vigilance becomes resilience.

At the Bank CFO Meet, one theme stood out: regulation isn’t just a compliance exercise—it’s a readiness challenge. The RBI’s draft ECL framework is a signal for Bank CFOs to act now, not later. Aligning intent with execution means bridging gaps in data, models, and governance before they become bottlenecks.

Three actionable takeaways:

• Start early, start with data. Map model, data, and disclosure gaps now so year one becomes a learning loop—not a scramble.
• Make finance–risk–audit collaboration the default. Clear ownership and documented judgements shorten the distance from signal to decision.
• Embed accountability with real-time visibility. Analytics surface weak signals; culture and governance ensure they’re acted on—fast.

Third-party relationships can be a hidden gateway for fraud. Weak vendor onboarding or lack of monitoring often leads to procurement fraud, bribery, or compliance breaches.

Organisations can take preventive measures such as background checks before onboarding vendors, use technology for risk scoring and anomaly detection, implementing continuous monitoring of vendor transactions and performance; and enforcing clear anti-bribery and corruption clauses in contracts to ensure third-party integrity.

Third-party Risk Management (TPRM) plays a vital role in fraud prevention by addressing risks that originate outside the organisation. Vendors, suppliers, and partners can unknowingly expose companies to fraud, making proactive oversight essential. TPRM helps identify vulnerabilities early through due diligence, helping ensure compliance with legal and ethical standards, and enabling continuous monitoring for red flags. TPRM as a strategic defense—not just a preventive measure— protects organisations’ reputation and strengthens resilience against evolving threats.

Every vendor, supplier and partner brings both opportunity, and risk. Understanding who we work with, what they stand for, is crucial. Third Party Risk Management (TPRM) does just that. One of the best ways to protect trust, credibility, and relationships is through risk-based third party reviews - helping ensure our supply chain is secure and maintain steady operations.

Engaging with senior industry leaders in Gurugram reinforced how much the conversation around fraud has evolved. It’s no longer seen as just a compliance or audit concern — it’s now recognised as a core business risk that cuts across operations, reputation, and technology.

There’s growing recognition that safeguarding integrity goes far beyond policies and controls. It’s about organisational culture, smart use of data, proactive employee and vendor engagement, and above all, the leadership conviction to stay ahead in a constantly shifting risk landscape.

Fraud today is not just a breach of trust but it's a challenge of traceability, legal defensibility, and digital complexity. As custodians of corporate integrity, we must harness the power of eDiscovery and legal analytics to uncover hidden patterns, preserve evidence, and enable swift compliant response. Awareness is vital, but it’s our ability to act decisively that protects reputations and restores confidence.

In an era where data is both an asset and a vulnerability, e-discovery has evolved from a reactive legal tool to a proactive fraud risk lens. Whether it's tracing digital breadcrumbs across borders or uncovering hidden patterns in unstructured data, our approach empowers organisations to act early, act decisively, and act with integrity. This International Fraud Awareness Week, let us combine forensic insight with cutting-edge technology to stay ahead of fraud and not just respond to it.

The most reliable sources of information about potential wrongdoing within an organisation are often those directly connected to it—employees, management, suppliers, subcontractors, and other stakeholders. Therefore, it is imperative for any organisation to establish and maintain an effective, accessible, and trustworthy reporting mechanism. Such a system not only encourages transparency and accountability but also fosters a culture where ethical conduct is actively supported and safeguarded

As employee-related fraud continues to evolve, it is imperative for organisations to engage the right partners to design and implement effective background screening controls. A resilient compliance framework not only safeguards against internal threats but also cultivates a transparent and trustworthy workplace culture—one where fraud struggles to take root