International Fraud Awareness Week 2025 – Top strategies to protect your business

Fraud is no longer a distant threat—it’s a daily reality for businesses and individuals alike. According to the Association of Certified Fraud Examiners (ACFE), organisations lose an estimated 5% of annual revenue to fraud. In 2025, this risk is amplified by AI-driven scams, synthetic identities, and deepfake technology, making fraud prevention a strategic priority rather than a compliance checkbox. As we mark International Fraud Awareness Week (November 16–22), Veriphy joins the global movement to raise awareness and empower businesses to fight fraud effectively. 

This year’s theme: “Preventing fraud is a team effort – Don’t sit on the sidelines” 

Fraud prevention isn’t just the job of compliance teams—it’s everyone’s responsibility. From frontline staff to senior leadership, creating a culture of vigilance is key. Here’s what this means in practice: 

• Embed fraud awareness into company culture 

• Regular training reduces risk dramatically. For example, phishing susceptibility drops from 33.1% to 4.1% after one year of education.  

• Encourage reporting and transparency 

Anonymous reporting channels and whistleblower protection policies help employees speak up without fear. 

• Strengthen digital hygiene 

Simple steps like using unique passwords, enabling multi-factor authentication (MFA), and verifying unexpected requests can prevent identity-based attacks. 

Emerging fraud risks  

• AI-Powered scams: Fraudsters use generative AI to create convincing deepfakes and synthetic identities, bypassing traditional verification methods.  

• Account takeovers: Login fraud surged globally by 21% year-over-year, highlighting the need for layered authentication.  

• Cryptocurrency and virtual investment fraud: Digital assets remain a prime target for sophisticated scams. 

Best practices for businesses 

1. Adopt advanced AI and machine learning tools 

These systems detect anomalies in real time and adapt to new fraud patterns.  

1. Implement Multi-Factor Authentication (MFA) 

MFA adds critical layers of security, reducing account takeover risks. 

1. Continuous monitoring and predictive analytics 

Use behavioral biometrics and device intelligence to flag suspicious activity before it escalates.  

1. Regular compliance audits 

Align with ISO 37001 and ISO 37301 standards for anti-bribery and compliance management. 

Fraud isn’t just a financial issue—it erodes trust, damages reputations, and disrupts operations. By fostering a proactive, collaborative approach, businesses can turn fraud prevention into a competitive advantage. 

At Veriphy, we provide cutting-edge identity verification and compliance solutions to help organisations stay ahead of fraud. Contact us today to learn how we can strengthen your fraud prevention strategy.