Fraud Risk Management Processes

Intentional actions designed to deceive or mislead for personal gain, often at another's expense.

A systematic approach to identifying, assessing, and managing risks associated with fraud within an organization.

The potential negative impact on a company's image and relationships due to customer dissatisfaction, media backlash, or regulatory scrutiny.

The negative consequences of reputation loss, including decreased sales, reduced value, lost partnerships, and difficulty recruiting talent.

The process of recognizing and evaluating potential fraud risks, including identifying the individuals or departments likely to engage in fraud.

The steps taken to mitigate fraud risks, such as implementing preventative measures, detecting wrongdoing, and responding to incidents.

Ongoing monitoring and review of fraud risk strategies, adapting them to evolving threats and changing circumstances.

The role of the Company Secretary in ensuring compliance, promoting ethical behavior, and balancing stakeholder interests.

A lack of clear communication between departments can lead to incorrect reporting, affecting the company's credibility.

Even though sustainability practices can improve a company's image, it's hard to measure the direct financial benefits. Studies show potential benefits, but solid proof is still lacking.

Marico's strategy to avoid risks in new ventures includes thorough research, learning from past experiences, and carefully evaluating potential partners.

Marico incorporates lessons learned from previous projects into future decisions, preventing past mistakes and improving future success.

Risks faced by Marico are categorized into internal (like poor planning) and external (like changing regulations). These risks can affect operations, finances, and even the company's image.

To manage interest rate fluctuations, Marico uses different funding sources and financial tools like interest rate swaps.

Marico protects its finances from changing currency values by using forward contracts and hedging techniques.

Marico emphasizes clear guidelines for safe investments, aiming to balance potential profits with minimized risk exposure.

Infosys utilizes various tools and data to monitor water scarcity, including rainfall patterns, water table levels, reservoir storage capacity, and the status of freshwater sources.

Underground reservoirs and rainwater harvesting serve as backup water sources during shortages, ensuring a reliable supply even when faced with water scarcity.

Sustainability teams play a crucial role in monitoring water availability by gathering and analyzing data to ensure sufficient water resources are maintained for Infosys' operations.

Effective water risk management allows Infosys to operate in locations where water scarcity might hinder their competitors, providing them with a strategic advantage.

By implementing a comprehensive water risk strategy, Infosys gains an edge over competitors by ensuring continuous operations even in water-scarce areas, enabling them to expand and thrive in challenging environments.

Storing water during shortages builds client confidence and maintains profitability by preventing disruptions, ensuring consistent revenue and reinforcing trust in Infosys' ability to deliver.

Infosys' organizational structure enables it to address water risks both locally and globally by integrating sustainability and risk management teams at all levels, ensuring a cohesive approach to water resource management.

Other companies can learn from Infosys' approach to water risk mitigation by adopting proactive planning, collaborative strategies, and implementing sustainable practices, ultimately fostering resilience and sustainable operations.