The vulnerability of an organization to external as well as internal frauds exposes it to multiple risks. An effective Fraud Risk Management program helps to keep abreast with the latest compliances and governing regulations.

Companies are being mandated to strengthen their fraud risk management frameworks in order to safeguard themselves from being victims of fraudulent activities. Ignorance of the laws governing effective business practices could be fatal for an organization.

The emphasis on role of Independent Directors in an organization, the presence of an effective whistle-blowing program and the vigilance of Management are some of the key areas to be focused on in order for business to mitigate their risks – both financial and reputational.