Protect Your Bottom Line: Occupational Fraud Prevention Insights for ANZ Organisations

Could Occupational Fraud Be Draining Your Business Without You Knowing?

When we think of fraud, we often imagine elaborate schemes orchestrated from outside the business. But what if the real threat was coming from within?

Fraud isn't always loud. In fact, it’s often quiet, slow-moving, and hard to detect—especially when your finance processes aren’t fully visible.

Occupational fraud, the kind perpetrated by employees, continues to be one of the most significant and costly risks for businesses in Australia and New Zealand. And it’s not just a big business problem. Small and mid-sized organisations are often more vulnerable due to limited controls and oversight.

While exact loss figures vary across sectors, undetected fraud can persist for long periods, especially when manual or siloed processes are in place. Without full visibility into spend, even small inconsistencies can accumulate into significant financial risk over time.

So why does this matter to you, as a finance leader or business decision-maker? Because fraud prevention isn’t just an internal audit issue. It’s a financial strategy.

Fraud Doesn’t Discriminate – But Detection Efforts Often Do

The reality is, many businesses lack the right systems and culture to prevent or detect fraudulent activities early. Paper-based or loosely managed expense and invoice processes are easy targets. Even well-meaning employees can slip into unethical behaviour if controls are weak or policies are unclear.

Some of the common red flags you might already be seeing (and maybe dismissing) include:

• Duplicate or round-number invoices

• Excessive or vague expense claims

• Unusual vendor patterns

• Lack of supporting documentation

These might not seem serious until they accumulate or trigger an external investigation.

Preventing and detecting occupational fraud for Australian and New Zealand organisations

With a digitised approach, fraud risk is no longer something you only spot during year-end audits, it becomes part of your everyday financial oversight.

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Manual Processes Are the Weak Link

According to market research, many organisations still rely on:

• Manual or semi-automated invoice approvals

• Paper-based expense claims

• Disconnected financial systems

These methods make it harder to spot duplicates, identify unusual patterns, or ensure policies are consistently enforced. Worse still, they create opportunities for intentional or accidental fraud to slip through.

In other words: if your teams are still chasing paper trails or juggling spreadsheets, you’re not just inefficient but you may also be vulnerable.

Real-Time Visibility = Real-Time Control

The key to reducing fraud risk isn’t working harder—it’s working smarter.

Finance teams need:

• End-to-end visibility over employee and supplier spending

• Automated alerts or flags for suspicious transactions

• Integrated systems that connect data across finance, procurement, and travel

With a digitised approach, fraud risk is no longer something you only spot during year-end audits, it becomes part of your everyday financial oversight. Leading ANZ organisations are rethinking their spend management strategies: leveraging automation, AI, and policy-based controls to reduce the risk of fraud, without adding unnecessary complexity. Solutions are now scalable and accessible, even for small or mid-sized teams with limited resources.

When Policy Exists but Isn't Enforced

Having a fraud policy is one thing. Enforcing it is another.

Most organisations think they have strong policies in place, but too often, these policies are:

• Inconsistent across departments or regions

• Not built into systems

• Ignored due to manual workarounds

Automation and digital controls help finance leaders ensure that policies aren’t just documented, they’re embedded into every process.

Want to Know Where to Start?

We’ve compiled the most effective ways ANZ companies are identifying, preventing, and responding to occupational fraud in a free white paper. If you’re serious about protecting your organisation's reputation and the bottom line, it’s a must-read. Whether you’re a finance leader in a small business, mid-market organisation, or large enterprise, now is the time to strengthen your fraud controls and your confidence.

Fraud isn’t just a problem for someone else’s business. It’s a threat to your organisation’s financial health, reputation, and resilience. By taking action now, you don’t just reduce risk—you set the standard for integrity and control in your business.

Download the whitepaper here