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According to ACCA’s new report, Combatting fraud in a
perfect storm, organisations across Asia-Pacific are contending with a diverse and
fast-evolving fraud landscape, shaped by procurement fraud (34%), bribery and
corruption (20%), and growing blind spots in crypto fraud and ESG
misrepresentation. Rapid innovation in digital payments and super-app platforms
has expanded attack surfaces, with AI-enabled deception accelerating the speed
and sophistication of fraud across the region.
Cultural dynamics remain a defining factor. In many Asia-Pacific markets, openly
discussing fraud is still perceived as disloyalty, and hierarchical norms discourage
whistleblowing. Independence of investigators and clear protections against
retaliation are therefore critical, particularly for junior staff, who reported the highest
levels of concern.
Drawing on responses from over 2,000 professionals and 31 roundtable discussions
around the world, the study – launched during International Fraud Awareness Week
– underscores the need to embed behavioural risk assessments and align fraud-
prevention efforts with local cultural realities. Conventional controls alone are no
longer sufficient in a region where technological change is reshaping financial,
commercial and consumer ecosystems at speed.
Regional survey results show reporting ease averaging 3.82/5, with junior staff the
most concerned about retaliation, highlighting a persistent imbalance in power
dynamics that restricts upward reporting. Respondents emphasised the importance
of culturally attuned governance, transparency of process, and leadership-led
accountability to build trust.
In collaboration with ACFE, IIA, CISI, ISC2, Airmic and ACi, the report introduces a new
Prevalence vs Materiality matrix lens to help organisations make better decisions
about allocating resources before fraud diminishes them. Through its companion
Calls to Action and Thematic Typology, the report also provides new guidance on
assessing what works and doesn’t – and crucially how to incorporate behavioural
insights into risk governance, moving fraud prevention from compliance theatre to
operational reality.
Key regional findings:
Procurement fraud (34%) and bribery and corruption (20%) are major
concerns across Asia-Pacific.
Crypto fraud and ESG misrepresentation are rising blind spots in rapidly
digitising markets.
AI-enabled deception accelerates attack speed and challenges traditional
controls.
Reporting ease averages 3.82/5, with junior staff most concerned about
retaliation.
Independence of investigators, clearer reporting policies and culturally
sensitive frameworks are critical enablers for speaking up.
Fraud prevention must be tailored to hierarchical norms, cultural dynamics
and the region’s expanding digital ecosystem.
‘Asia-Pacific’s fraud risks are shaped as much by culture as by technology, said
Rachael Johnson, head of risk management and corporate governance in ACCA’s
policy and insights team. ‘Digital innovation brings enormous opportunity, but it also
accelerates misinformation and deception. Organisations must recognise how
hierarchical norms and fear of retaliation limit visibility, creating cultural barriers to
governance that supports safe, trusted reporting.’
‘Addressing fraud in Asia-Pacific requires culturally grounded solutions,’ said Pulkit
Abrol, director of Asia- Pacific, ACCA. ‘Independence in investigations, behavioural
risk assessments and clear reporting frameworks are essential if organisations are to
keep pace with rapidly evolving digital and operational threats.’
The report calls for a collective reset, urging organisations to strengthen proactive
detection, embed accountability and align governance structures with the
behavioural realities of the region. It emphasises that preventing modern fraud
requires cross-functional collaboration, culturally sensitive oversight and ensuring
integrity is integrated across digital, organisational and supply-chain ecosystems.
