How risk aware is your finance team?
Fraud is becoming more sophisticated, with technology-driven attacks targeting accounts payable and finance operations. Early insights from our upcoming Finance Leaders’ Fraud Report show that 66% of finance professionals know someone who has fallen victim to fraud in the last five years, and 19% experience fraud frequently. These numbers highlight the importance of a proactive, risk-aware approach.
Here’s what finance leaders can do to build a team that stays alert, prepared, and risk aware.
Stay Ahead of Evolving Fraud Threats
Fraudsters are constantly developing new tactics, from deepfake scams to complex vendor fraud schemes. According to our research, 76% of finance professionals say additional training and resources would help them spot fraud faster. Keeping your team updated with the latest fraud prevention strategies and industry insights ensures your finance operations stay protected and resilient.
Spot the Warning Signs Early
Early detection is critical to minimizing losses from fraud. Encourage your team to identify anomalies, ask questions, and escalate concerns immediately. Our research also shows that 60% of respondents believe their manager could do more to protect the team from accounts payable fraud. Strong leadership support reinforces a culture of vigilance and risk awareness across finance teams.
Build a Fraud Prevention Plan and Anti-Fraud Culture
A robust fraud prevention plan combined with an anti-fraud culture ensures everyone in finance understands their role in protecting the organization. Regular training, clear policies, and ongoing awareness initiatives help embed prevention into everyday finance operations. This approach reduces risk while building confidence in your team’s ability to respond quickly.
Leverage Technology to Prevent Fraud
Automation, AI, and advanced analytics can help detect irregularities in payments and financial data before they escalate. The right tools strengthen fraud detection and prevention while allowing finance professionals to focus on strategic risk management and compliance.
Resources to Build a Risk-Aware Finance Team
- Finance Leaders Fraud Prevention Summit – March 10th, free virtual event worth 4 hours CPD. Learn practical strategies to prevent fraud and protect your organization.
- Webinar: 2026 Fraud Insights for Finance Leaders – March 25th. Explore accounts payable fraud trends and get early insights from the upcoming Finance Leaders Fraud Report 2026.
- IFOL Online Community – Connect with finance leaders and access ongoing resources for fraud risk awareness and prevention.
- Training and Certification – Build your team’s skills in fraud detection, prevention, and finance operations leadership with IFOL programs.
Building a risk-aware finance team is essential. By combining awareness, early detection, robust policies, anti-fraud culture, and technology-driven prevention, organizations can reduce financial risk and strengthen overall finance operations.
We can help you stay informed and make sure your team is ready for what’s next.
