82% of executives surveyed worldwide experienced a fraud incident in the past year compared to 75% in 2015, according to the Kroll Annual Global Fraud and Risk Report.

As per ACFE, organizations shed an estimated 5 percent of their annual revenues to fraud and hence the need for a strong anti-fraud stance and proactive, comprehensive approach to combating fraud is clear. As organizations increase their focus on risk, the management should consider, enact and improve measures to detect, deter and prevent fraud.

Trends that highlight the need for stronger fraud risk management are Globalization, Economic Downturn, Risk Surprises and Process…

Rohit Muchhal

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