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This study aims to examine the impact of corporate culture, measured by corporate social responsibility (CSR), on the likelihood and severity of corporate fraud. CSR literature indicates that corporate managers are moral actors and are obliged to exercise their discretionary decisions according to their moral standards. Based on the moral development theory, this study argues that higher managers’ ethical values reflected by higher CSR activities are less likely to commit fraud and have lower severity of fraud.

This study argues that at the firm level, corporate culture can be measured by firms’ CSR activities. Using probit, match-pair, propensity matching and Heckman regressions on a sample of 152 criminal corporate fraud cases in the USA from the US Department of Justice (DOJ) during 2000 and 2010, this study empirically examines the impact of CSR, CSR strengths and concerns scores on the likelihood and the severity of corporate fraud.

Firms with higher CSR and CSR strengths (concerns) scores have lower (higher) likelihood and lower (higher) severity of corporate fraud. This study finds that firms with higher community, employee, environment and product-related CSR have lower likelihood of fraud, and firms with higher diversity, employee, environment and product-related CSR have lower fraud severity.

Establishing a positive corporate ethical culture is essential to curb the outbreak of corporate fraud that threatens our societal norms. The findings also shed some light for investors, corporate board of directors and regulators to consider CSR as a reflection of top managers’ moral values that is negatively related to the occurrence and severity of corporate fraud.

Strengthening moral values among top executives and employees in corporations by encouraging CSR activities aid our society to alleviate future outbreak of epidemic problem for corporate fraud.

This study brings a new perspective that there is a relationship between corporate ethical culture within an organization, measured by CSR activities, and corporate fraud based on the cognitive moral development theory in organization.

The study aims to overview the different types of internal-led cyber fraud that have gained mainstream attention in recent major-value fraud events involving prominent Indian banks. The authors attempted to identify and classify cyber frauds and its drivers and correlate them for optimal mitigation planning.

The methodology opted for the identification and classification is through a detailed literature review and focus group discussion with risk and vigilance officers and cyber cell experts. The authors assessed the future of cyber fraud in the Indian banking business through the machine learning–based k-nearest neighbor (K-NN) approach and prioritized and predicted the future of cyber fraud. The predicted future revealing dominance of a few specific cyber frauds will help to get an appropriate fraud prevention model, using an associated parties centric (victim and offender) root-cause approach. The study uses correlation analysis and maps frauds with their respective drivers to determine the resource specific effective mitigation plan.

Finally, the paper concludes with a conceptual framework for preventing internal-led cyber fraud within the scope of the study. A cyber fraud mitigation ecosystem will be helpful for policymakers and fraud investigation officers to create a more robust environment for banks through timely and quick detection of cyber frauds and prevention of them.

Additionally, the study supports the Reserve Bank of India and the Government of India's launched cyber security initiates and schemes which ensure protection for the banking ecosystem i.e. RBI direct scheme, integrated ombudsman scheme, cyber swachhta kendra (botnet cleaning and malware analysis centre), National Cyber Coordination Centre (NCCC) and Security Monitoring Centre (SMC).

Structured and effective internal-led plans for cyber fraud mitigation proposed in this study will conserve banks, employees, regulatory authorities, customers and economic resources, save bank authorities’ and policymakers’ time and money, and conserve resources. Additionally, this will enhance the reputation of the Indian banking industry and extend its lifespan.

The innovative insider-led cyber fraud mitigation approach quickly identifies cyber fraud, prioritizes it, identifies its prominent root causes, map frauds with respective root causes and then suggests strategies to ensure a cost-effective and time-saving bank ecosystem.

This paper aims to focus on the different types of insider-led cyber frauds that gained mainstream attention in recent large-scale fraud events involving prominent Indian banking institutions. In addition to identifying and classifying cyber fraud, the study maps them on a severity scale for optimal mitigation planning.

The methodology used for identification and classification is an analysis of a detailed literature review, a focus group discussion with risk and vigilance officers and cyber cell experts, as well as secondary data of cyber fraud losses. Through machine learning-based random forest, the authors predicted the future of insider-led cyber frauds in the Indian banking business and prioritized and predicted the same. The projected future reveals the dominance of a few specific cyber frauds, which will make it easier to develop a fraud mitigation model based on a victim-centric approach.

The paper concludes with a conceptual framework that can be used to ensure a sustainable cyber fraud mitigation ecosystem within the scope of the study. By using the findings of this research, policymakers and fraud investigators will be able to create a more robust environment for banks through timely detection of cyber fraud and prevent it appropriately before it happens.

The study focuses on fraud, risk and mitigation from a victim-centric perspective and does not address it from the fraudster’s perspective. Data availability was a challenge. Banks are recommended to compile data that can be used for analysis both by themselves and other policymakers.

The structured, sustainable cyber fraud mitigation suggested in the study will provide an agile, quick, proactive, stakeholder-specific plan that helps to safeguard banks, employees, regulatory authorities, customers and the economy. It saves resources, cost and time for bank authorities and policymakers. The mitigation measures will also help improve the reputational status of the Indian banking business and prolong the banks’ sustenance.

The innovative cyber fraud mitigation approach contributes to the sustainability of a bank’s ecosystem quickly, proactively and effectively.

The purpose of this paper is to discuss the adverse impact of a female executive’s fraudulent behaviour on other female employees working in the same organisation.

This developmental study uses a comprehensive literature review and a set of propositions to identify the consequences of a female’s fraudulent activity on other female employees working in the focal organisation. It develops a conceptual framework for the same. Propositions are further supported by five focus group interviews.

Leveraging stigma-by-association theory, the paper asserts that fraud committed by one female executive in an organisation enhances discriminatory practices against other female employees in the organisation. The level of adverse impact is contingent on the seniority of the female executive committing the fraud, severity of the fraud, gender of the other female employees’ managers and diversity in culture in the organisation.

This paper extends the stigma-by-association theory. In its original spirit, the theory describes how individuals who keep company with stigmatised individuals are also stigmatised. This study asserts that for this effect to take place, especially under fraudulent conditions, mere group affiliation, such as working in the same organisation, may cause an adverse effect on other women.

The paper is based on a rich conceptual and theoretical discussion that identifies the key consequences of a female executive’s fraudulent activity in an organisation. The study also conceptually establishes the moderating relationship between a female executive’s fraudulent activity and several key organisation-level variables.

This paper attempts to find the essence of whistleblowing in organizational structures, to reflect on whistleblowing mechanism and the perception of whistleblowing in the working class of a country. Whistleblowing is exhibited as one of the quintessential elements of corporate governance to prevent or detect inundating corporate frauds. This study examines the whistleblowing intentions and its precursors with the knowledge of repercussions, in context of Indian employees.

Primary data has been analysed herein using a structured questionnaire from 396 Indian employees of public and private sector companies of India using, multiple regression analysis.

It provides evidence that personal factors like organizational commitment, locus of control impact whistleblowing intentions vary by the type of fraud the employee encounters. The study presents a case for variation of considerable extent in non-financial fraud and financial fraud. Further, the kind of organization the employee is working in is an essential antecedent for whistleblowing behaviour of an employee. It highlights higher the perceived power or status held by the wrongdoer; higher would be an employee’s intentions to blow the whistle against him.

It would help managers in developing an environment which would encourage the employees by creating a self-check mechanism in the organization for improved conduct and better corporate governance. The shreds of evidence show that locus of control plays a vital role in moderating the impact of other antecedents on whistleblowing intentions of the employees.

Organization’s expectation from the employees to blow the whistle against wrong doing also makes the organization responsible for protecting the employee from the retaliation, which could follow after the act of whistleblowing. Also, prompts for imbibing ethical conduct throughout the organizational hierarchy.

The aim of this paper is to develop a model for the prioritization of collusive behaviours within Indian food grain supply chain (FGSC) to enable government authorities, entrusted with the task of public distribution, to address those frauds based on their priority for making an existing supply chain more sustainable.

An interval 2-tuple linguistic Technique for Order Preference by Similarity to Ideal Solution (ITL-TOPSIS) method has been used to deal with the problem of prioritization of frauds under incomplete and uncertain information. Unlike traditional methods, this methodology offers an ability to make informed decisions, without loss of information, while factoring in various ambiguities.

The outcome indicates that the most severe fraud is adulteration, which adversely impacts the health of a person. Bogus Ration Card comes next, as it results into the distribution of grains to non-poor, ineligible population rather than the deserving beneficiaries. Next is diversion, where diverted food grains end up being sold at much higher rates than specified subsidized rates. Theft is least severe, as this would not affect FGSC much until done on large scale.

More decision-makers can be consulted to entertain more uncertainty and ambiguity. Also, a comparative study can be performed using different methodologies.

The proposed modelling could empower various governmental and non-governmental regulatory bodies in formulation of food policies to effectively tackle the problem of inappropriate delivery of food to the unintended population and to take necessary informed decisions for ensuring food security and safety to the society at large.

There is a dearth of studies related to the prioritization of frauds within FGSC. This research bridges the gap in literature by providing a decision-making framework for prioritizing collusive behaviour under ambiguous and uncertain information.

The purpose of this paper is to focus on managing the risk of fraud in commercial letters of credit (LC) in Bangladesh involving three parties: the seller, the buyer and the bank. It addresses the severity of LC fraud, the banks’ actions when detected and the preventive measures the relevant parties can adopt.

This research uses doctrinal and qualitative methods to propose strategic actions that benefit buyers, sellers, banks, legal professionals and judges. The study aims to explore the modus operandi used by fraudsters through thematic analysis.

The study’s findings reveal that LC fraud has escalated to a concerning level, posing a significant threat to the economic stability of Bangladesh. Measures must be taken to mitigate this risk and safeguard the country’s financial integrity. To effectively combat the risk of LC fraud, the updated version of UCP must include specific and detailed guidelines on LC fraud. This study recommends preventative measures that all parties involved must take to reduce the likelihood of fraud significantly.

Due to a lack of LC experts, the participant sample for the study in Bangladesh was limited. Nevertheless, most banking participants were highly distinguished and held the Head of Trade Finance Department position in commercial banks. A few academics and legal practitioners with LC expertise also participated in the study.

It provides cutting-edge solutions to effectively handle LC fraud risk and provides proactive measures to prevent it.

Commentators express concern that when auditors investigate for but fail to detect fraud, jurors might effectively penalize the auditors for having investigated for the fraud (AICPA, 2004; Coffee, 2004; Golden, Skalak, & Clayton, 2006). Consistent with these concerns, Reffett (2010) finds that, in a between-participants setting, evaluators in cases of undetected fraud are more likely to hold auditors liable for damages when the auditors identified the perpetrated fraud as a fraud risk and then investigated for the fraud, relative to when the auditors did neither. What remains unclear, however, is the extent to which identifying versus investigating fraud risks increases evaluators’ between-participants assessments of auditor liability. That is, when auditors investigate for, but fail to detect fraud, is the increase in evaluators’ liability assessments due to the fact that the auditors identified (i.e., were aware of) the fraud risk but did not detect the fraud, or that the auditors unsuccessfully investigated for the fraud (or both)? This study addresses these questions by reporting evidence that both identifying and investigating fraud risks can each, in isolation, increase evaluators’ perceptions of auditor negligence. The processes by which identifying and investigating fraud risks increase evaluators’ negligence verdicts, however, appear to differ.

The fraud landscape for FinTech industry has increased over the past few years, certainly during the time of COVID-19, FinTech market reported rapid growth in the fraud cases (World Bank, 2020). Taking the consideration, the paper has qualitatively understood the loopholes of the FinTech industry and designed a conceptual model declaring “Identity Theft” as the major and the common fraud type in this industry. The paper is divided in two phases. The first phase discusses about the evolution of FinTech industry, the second phase discusses “Identity Theft” as the common fraud type in FinTech Industry and suggests solutions to prevent “Identity Theft” frauds. This study aims to serve as a guide for subsequent investigations into the FinTech sector and add to the body of knowledge regarding fraud detection and prevention. This study would also help organisations and regulators raise their professional standards in relation to the global fraud scene.

This paper revisits the literature to understand the evolution of FinTech Industry and the types of FinTech solutions. The authors argue that traditional models must be modernised to keep up with the current trends in the rapidly increasing number and severity of fraud incidents and however introduces the conceptual model of the common fraud type in FinTech Industry. The research also develops evidences based on theoretical underpinnings to enhance the comprehension of the key fraud-causing elements.

The authors have identified the most common fraud type in the FinTech Industry which is “Identity Theft” and supports the study with profusion of literature. “Identity theft” and various types of fraud continue to outbreak customers and industries similar in 2021, leaving several to wonder what could be the scenario in 2022 and coming years ahead (IBS Inteligence, 2022). “Identify theft” has been identified as one the common fraud schemes to defraud individuals as per the Association of Certified Fraud Examiners. There is a need for many of the FinTech organisations to create preventive measures to combat such fraud scheme. The authors suggest some preventive techniques to prevent corporate frauds in the FinTech industry.

This study identifies the evolution of FinTech industry, major evidences of Identity Thefts and some preventive suggestions to combat identity theft frauds which requires practical approach in FinTech Industry. Further, this study is based out of qualitative data, the study can be modified with statistical data and can be measured with the quantitative results.

This study would also help organisations and regulators raise their professional standards in relation to the global fraud scene.

This study will serve as a guide for subsequent investigations into the FinTech sector and add to the body of knowledge regarding fraud detection and prevention.

This study presents evidence for the most prevalent fraud scheme in the FinTech sector and proposes that it serve as a theoretical standard for all ensuing comparison.

Whistleblowers have been credited for uncovering financial scandals in companies globally, including Enron, Olympus Corporation, and WorldCom. Despite increasing support and incentives for whistleblowing, there generally remains reluctance to blow the whistle. Thus, the purpose of this study is to review: (1) the determinants of internal and external whistleblowing on accounting-related misconduct, (2) U.S. whistleblowing legislation on accounting-related misconduct and related research, and (3) the effects of whistleblowing on firms and whistleblowers. Within each area, suggestions for future research are offered.