Procurement fraud and bribery emerge as Asia-Pacific’s top risks as AI-driven deception accelerates
LAHORE ( WEB NEWS )
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.
Download the full report: https://www.accaglobal.com/gb/en/professional-insights/risk/combatting-fraud.html