Analysis

India Corporate Fraud Perception Survey 2018

Edition III

Responses to the third edition of our survey indicate that organisations appear confident of tackling fraud and are making the necessary investments to deploy effective fraud risk mitigation strategies.

The state of corporate fraud

Organisations are increasingly recognising that fraud is not only a result of a macroeconomic trend of diminishing ethical values, but also of internal systemic loopholes that can be plugged by better controls and limited overrides. As fraud schemes get sophisticated, they are aware that there needs to be greater focus on preventive controls, necessitating adequate investments in these areas.

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The approach to fraud prevention, detection and response

Technology is helping organisations to proactively manage the risk of fraud. In the last two years, organisations have implemented several tools to assist them in monitoring transactions and flagging off suspicious entries. We believe these investments in technology have been successful, thereby prompting corporates to look at the next level of technologies for fraud prevention.

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Impact of anti-fraud regulation on fraud

Regulators are aware of the challenges faced by organisations in curbing fraud and are determined to ensure business is conducted ethically.

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