KARACHI: A recent report by the 'Association of Chartered Certified Accountants' (ACCA) titled: “Combatting fraud in a perfect storm”, reveals that Asia-Pacific organisations are confronting an increasingly complex fraud landscape, with procurement fraud (34pc) and bribery and corruption (20pc) emerging as the region’s top risks. Rapid expansion of digital payments, super-app ecosystems and AI-enabled deception is widening exposure, while crypto-related fraud and ESG misrepresentation are becoming significant blind spots in fast-digitising markets.
Cultural dynamics continue to shape fraud risk across Asia-Pacific. In many markets, discussing fraud is seen as disloyalty, and hierarchical structures deter whistle blowing. Junior staff remain the most reluctant to report wrongdoing, with survey responses showing an average reporting ease score of 3.82/5. The report stresses that independence of investigators, clear anti-retaliation protections and culturally attuned reporting frameworks are essential to overcome these barriers.
Based on insights from over 2,000 professionals and 31 global roundtables, the study—launched during “International Fraud Awareness Week”—argues that traditional controls alone cannot keep pace with accelerating technological change. It calls for behavioural risk assessments and governance models that reflect local cultural and organisational realities.
Developed in partnership with ACFE, IIA, CISI, ISC2, Airmic and ACi, the report introduces a new Prevalence vs Materiality matrix to help organisations prioritise resources before fraud causes material damage. Companion guidance, including calls-to-action and a thematic typology, highlights what works, what doesn’t, and how behavioural insights can move fraud prevention from “compliance theatre” to effective, operational practice.
ACCA leaders emphasise that modern fraud prevention in Asia-Pacific requires culturally grounded solutions, proactive detection, leadership-led accountability and cross-functional collaboration. Strengthening trust, transparency and integrity across digital and supply-chain ecosystems is critical to keeping pace with evolving threats and enabling safe, confident reporting within organisations.
Copyright Business Recorder, 2025




















Comments
Comments are closed for this article.