12th Global Summit on “Fraud & Forensics – Emerging Trends and Combating Challenges”

Recently, businesses around the world have been accosted by two significant changes that have disrupted the very fiber of our existence and business activity - the COVID 19 pandemic which caused severe disruptions across the value chain and the increasing pace of digital transformation requiring companies to quickly adapt newer models which now, fortunately, has become a vital part of their resilience. 

As organizations shifted to remote workforce management, gravitated towards virtual distribution models and new paradigms of customer experience, the tectonic shift in business activity and operating model has led to increased vulnerability to fraud. A new sense of ingenuity seems to have fueled the ‘art of deception/fraud’ in the market – whether we consider banking, wherein reported frauds aggregated ₹1.38 trillion in 2021, or the Insurance Sector which saw record highs in claim frauds, Ecommerce, Manufacturing; no prominent sector or area of business activity has been spared the wrath of increased fraud.
 
Further, as digitization proliferates every aspect of the delivery chain and customer experience, cyber fraud, which recorded a steep 500% rise in 2021 in India, is quickly moving up the ranks to becoming a key Board Room agenda for companies. Cryptocurrency, a sunrise area, too has not been spared despite the claim of being more secure. This is forcing businesses to invest heavily in risk management practices to help fight the overhang of fraud and consequent threat to business value.

To discuss the evolving scenario of fraud faced by corporates and the need for building greater resilience and robustness in business operating models, ASSOCHAM’s National Council for Internal Audit and Risk Management is organizing, this year under Azadi Ka Amrit Mahotsav, the 12th Global Summit on “Fraud & Forensics – Emerging Trends and Combating Challenges” on 21-22 March 2022. Eminent speakers drawn from the Industry, Regulators and Practitioners will join in their deliberation of evolving threats, emerging trends that are expected to shape the future of business and the imperatives at hand.