International Fraud Awareness Week

Each year, the Association of Certified Fraud Examiners' (ACFE) dedicates a week to raising awareness about fraud prevention. As we mark this important observance, we are reminded of the extraordinary challenges posed by the global economy, politics, and society – each presenting opportunities for fraudulent activities. The landscape of fraud is in a constant state of evolution, compelling businesses to maintain unwavering vigilance and perpetually assess the ever-emerging risks and the deleterious consequences that fraud inflicts upon stability and efforts to drive to growth. It's noteworthy that no industry remains impervious to such threats.

In response to these dynamic challenges, we have curated a selection of our impactful articles and insights, shedding light on the diverse facets of fraud risk within our strong global organization of firms. These include:

While these insights provide a multifaceted perspective on potential fraud-related risks, a common thread runs through them—fraud is a continually evolving phenomenon. Technology serves as a double-edged sword, enhancing our capacity to detect fraud while also facilitating criminal activities. The untapped potential of artificial intelligence introduces additional complexity. Recognizing and acknowledging potential risks are pivotal in the battle against fraud.

This underscores the vital importance of Fraud Week. We encourage vigilance, open communication with employees about fraud risk, the establishment of whistleblowing or 'speak up' hotlines, the conduct of comprehensive fraud risk assessments within organizations and the embracement of innovation to help mitigate risk by enhancing prevention and detection capabilities.

KPMG professionals are readily available for discussions, and you can reach out to our global and regional contacts below or contact the authors of the articles that pique your interest. We sincerely hope that you won't encounter a fraud issue, but if you do, you can count on us to be on your side to assist.