International Fraud Awareness Week

During uncertain economic times, the risk of fraud is often exacerbated. Increased stress creates a perfect storm that can impact large organizations, small companies, partnerships, sole traders, and individuals. This was evident during and after the COVID-19 pandemic, during prior economic resets and global political unrest — market pressure is higher than ever. Fraud is more prevalent under these circumstances and individuals experiencing greater financial pressures find more creative ways to hide underperformance or take advantage of susceptible ways to take advantage or benefit. 

KPMG Forensic has a global network of experienced professionals across forensic accounting, investigation, intelligence, technology and ethics, and integrity compliance. We deal with these matters on a day-to-day basis and have significant insights into how our clients globally manage the impact of fraud. Our biggest takeaway for businesses is to stay vigilant — and that’s why the Association of Certified Fraud Examiners’ International Fraud Awareness week is the perfect opportunity to remind you and your staff about the importance of preventing, detecting, and responding to fraud risk in all of its forms. Make sure you have a clear understanding of potential fraud risk, your staff know how to identify red flags, you have a clear process for whistleblowing and a rapid procedure for responding to reports of fraud made.  

To assist with this, we have curated a sampling of our more telling articles and points of view under four key themes that can help you and your team manage fraud risk: 

• ESG fraud – What is greenwashing, bluewashing and social washing, and why is it more important than ever to be aware of it. 
• Financial crime – What the challenges are and how to fight it.
• Ethics and compliance – How to strengthen compliance cultures and programs. 
• Digital and crypto fraud – How volatility and evolving regulations pose risks.

We also share the outcomes of our 2022 Fraud Outlook Survey across the Americas, including industry trends, and the latest results from the KPMG Fraud Barometer in the UK. And for something a little extra, check out our takeaway actions at the bottom of this page. 

Happy International Fraud Awareness Week (#fraudweek). But remember — fraud isn’t static and neither should your fraud awareness initiatives. Stay vigilant and reach out if you would like to discuss. Our global and regional contacts below are always open to a discussion or would be happy to share a KPMG firm contact in your local jurisdiction.