Corporate fraud, often referred to as "white-collar crime", continues to be a persistent and damaging problem that makes headlines andÌýaffects organizations worldwide.
The main motives are financial gain and opportunism, with the majority of fraud cases involving sums under USD 200,000. Weak internal controls are identified as the primary cause of economic crime, with 76% of cases citing this as the main issue. Despite technological advancements, 46% of fraud cases occurred without the use of technology and only 5% involved cybercrime, primarily phishing or hacking. �
Join us as we explore the latest fraud trends in Switzerland and discover actionable insights to protect your business. We'll reveal the interconnected storylines of white-collar crime, the rise of AI in fraud prevention, the dark side of responsible investing and why whistleblowing channels are important for maintaining integrity.
Gain a quick understanding of the prevailing fraud dynamics in Switzerland and worldwide. Two main sources were used in the research. To gain a global perspective, we used the 2025 report published by the ACFE (Association of Certified Fraud Examiners).
This report includes a global study and numerous insights into fraud, such as typesÌýof perpetrators and typical fraudster behavior. At the national level, the data comes from previous Fraud Barometers and the 2025 Fraud BarometerÌýto show a general timeline and highlight potential trends.Ìý
Who is the enemy within? What are their methods? And how can organizations better protect themselves? To find out, download ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø’s global study.
"The typical fraudster is often someone you wouldn't suspect: highly respected, long-serving, and seemingly loyal. This highlights the importance of vigilance and robust internal controls."
Ìý
Bob Dillen
Partner, Head of Forensic
Swiss fraud landscape vs. international trends
Distribution of Fraud Cases by Category 2024
Globally, asset misappropriation is the most common form of fraud by far, accounting for 89% of cases, followed by corruption (48%) and financial statement fraud (5%). A similar pattern emerges from the analysis of Swiss fraud cases, but with slightly different figures: asset misappropriation occurs in 70% of cases, corruption in 45% and financial statement fraud in 5%.
> Click on the image to enlarge it
Median Loss Worldwide 2020-2024
The data does not reveal a consistent pattern of median losses over time. However, financial statement fraud consistently results in the highest median losses throughout the observed periods, reaching CHF 681,112 in 2024. In contrast, asset misappropriation and corruption result in significantly lower losses, with medians under CHF 180,000.
Ìý
> Click on the image to enlarge it
Types of Perpetrators in Switzerland 2018-2024
Employees were the most common perpetrators of fraud in Switzerland in 2024, accounting for 35% of cases. Other significant categories include private individuals and management, each accounting for 20%. Notably, professional fraudsters and organized crime have nearly disappeared from the data.
> Click on the image to enlarge it
Types of Victims in Switzerland 2018-2024
In 2024, private individuals and public institutions were the most frequently targeted victims, accounting for 35% and 50% of cases, respectively. Meanwhile, the share of cases involving commercial enterprises has declined sharply, and government-related fraud remains rare.
Ìý
> Click on the image to enlarge it
Fraud Losses by Region in Switzerland 2024
In 2024, Southern Switzerland reported an unusually high amount of fraud losses, totaling CHF 1.7 billion. This was primarily due to a significant criminal case before the Federal Criminal Court in Bellinzona. Other regions reported much smaller totals � for example, Central Switzerland recorded CHF 230 million and Western Switzerland CHF 50 million. Eastern Switzerland had the lowest reported losses at CHF 0.6 million. Some regions had no available data.
> Click on the image to enlarge it
Evolution of Asset Misappropriation Subschemes' Losses 2016-2024
After years of moderate decline, losses from asset misappropriation subschemes surged again in 2024, primarily due to check and payment tampering, which reached CHF 141.1 million. Interestingly, several other subschemes � including expense reimbursements, register disbursements, and cash on hand � converged at CHF 45.5 million each.
Ìý
> Click on the image to enlarge it
Methodology
Source of global date: Occupational Fraud 2024: A Report To The Nations®, published by the Association of Certified Fraud Examiners.
Source of Swiss data: The ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Forensic Fraud Barometer tracks court cases involving white-collar crime in Switzerland that have been publicly tried and reported in the media. To this end, over 2,500 relevant articles from various Swiss media outlets from 2024 were analyzed. For the current "ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Forensic Fraud Barometer," only articles reporting on convictions with offense amounts exceeding CHF 50,000 before Swiss courts were considered.
Data analytics and AI: a double-edged sword
In today’s complex, high-volume business environments, data analytics and artificial intelligence (AI) are essentialÌýfor detecting and preventing fraud.
While traditional audits and internal controls remain important, they are increasingly being complemented � or even outpaced � by data-driven methods. As fraud becomes more digital and sophisticated, organizations are under pressure to strengthen their detection capabilities beyond conventional controls.
Technology enables fraud and financial crime to be faster, harder to trace and more scalable. This is why data analytics is emerging as a critical line of defense.
According to the 2024 ACFE & SAS Anti-Fraud Technology Benchmarking Report, nearly 91% of organizations currently use data analysis techniques in their anti-fraud programs. The adoption of advanced tools, such as machine learning and AI, is expected to grow sharply in the coming years, with half of all organizations expecting to use AI and machine learning as part of their fraud analytics initiatives by 2026.
Another study conducted by the World Economic Forum showed that 56% of respondents expect generative AI to give attackers an overall cyber advantageÌýwithin the next two years.
For Swiss-based and multinational organizations alike, integrating data analytics into fraud risk management frameworks isÌýnot just a future considerationÌýâ€� it's a governance imperative.
Ìý
Why it matters:
Sources:
The rise of ESG fraud: challenges and implications
As Environmental, Social, and Governance (ESG) principles become more influential in investment decisions, the threat of ESG fraud increases. Recent scandalsÌýhave exposed the harsh truths behind seemingly virtuous companies.
- Child labor in Africa:ÌýOne example of ESG fraud involves allegations of child labor in a supply chain, highlighting the challenges of ensuring ethical practices in global commerce. This case serves as a reminder that even companies that appear virtuous can still engage in unethical behavior.
- Greenwashing in Switzerland:ÌýAnother form of ESG fraud is greenwashing, in which companies exaggerate or fabricate their environmental credentials to attract investors. This deceitÌýundermines confidence in genuine sustainability initiatives and highlights the need for increased oversight and accountability.
- COâ‚� tax controversy:ÌýControversies over COâ‚� taxes have also sparked outrage, signaling a clash between economic interests and environmental responsibility. This underscores the delicate balance that must be struck when implementing ESG principles and the potential for conflicts of interest.
- Carbon offset conundrum:ÌýThe effectiveness and potential for abuse of carbon offsets have sparked debate.ÌýTransparency and oversight are essential to prevent fraudulent practices and maintain the integrity of ESG initiatives.
Summary
The increase in ESG fraud highlights the need for of vigilance and the demand for accountability in responsible investing. It’s crucial to scrutinize claims of ethical and sustainable practices, conduct thorough due diligence, and promote transparent reporting to navigate the complexities of responsible investing with integrity.
ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Whistleblower Channel: your fraud prevention solution
ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø offers comprehensive managed services for effective whistleblower management.ÌýThese services ensure compliance with regulatory requirements and provide scalable, tailored solutions for organizations. ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø's expertise in GDPR compliance and adherence to the EU Whistleblower Directive ensures that secure channels are in place to quickly report and address fraud.
AlthoughÌýsignificantÌýprogress has been made in fraud detection through whistleblowing in recent years, the implementation rate of hotlines remains low across Western Europe. ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø recognizes the importance of robust reporting mechanisms and can help organizations test, assess and evaluate the effectiveness of their existing whistleblowing hotlines and reporting mechanisms. This processÌýhelps identify any gaps or areas for improvement.
ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø can also support organizations in developing a whistleblowing system that incentivizes and enables individuals to report suspected fraud while protecting assets.
ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø also offers expertise in ISO 37002, an international standard for whistleblowing management systems. The standard provides guidelines for establishing, implementing, maintaining and improving effective whistleblowing management systems. ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø can help organizations align their whistleblowing practices with ISO 37002, ensuringÌýthey adhere toÌýinternational standards and best practices.
ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø's comprehensive fraud prevention solution combines its whistleblower solutions with expertise in GDPR compliance, the EU Whistleblower Directive and ISO 37002. Partnering with ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø provides organizations with a comprehensive fraud prevention solution. By partnering with ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø, organizationsÌýto enhance their whistleblowing mechanisms, improve fraud detection and ensure compliance with regulatory requirements.
How to address these challenges?
In the face of emerging threats of corporate fraud and financial crime, it's imperative to adopt a multifaceted approach that encompasses the latest technological advancements and ethical considerations.
Organizations must integrate data analytics and AI into their fraud detection systems to keep up with the increasingly sophisticated, digital nature of fraud. These tools allow organizations to detect subtle data trails left by fraudulent activities, scale their monitoring capabilities and use predictive models toÌýproactively identify high-risk areas.
Furthermore,Ìýestablishing secure and effective whistleblower channels is essential to fostering an environment where fraud can be reported and addressed promptly.
Enhancing whistleblowing mechanisms and ensuring adherence to the EU Whistleblower Directive and GDPR compliance, organizations can significantly improve their fraud detection capabilities and safeguard their assets.Ìý
Ìý
Periodic fraud-focused reviews: a strategic response
Periodic fraud-focused reviews are structured, risk-based assessments that analyze business data to detect signs of fraud, misconduct or control weaknesses.
Typically conducted by forensic specialists, these reviews go beyond standard audits, leveraging advanced analytics and investigative techniques to uncover red flags across transactions, relationships and behaviors.
They are essential not only for investigations but also for prevention, governance and long-term business security.
What these reviews do:
- Use data analytics such as anomaly detection and predictive modeling to flag risks early.
- Uncover hidden or emerging fraud patterns.
- Look for signals of conflicts of interest, bribery and kickbacks.
- Strengthen compliance programs to act as a powerful internal deterrent.
Take action: secure your business today
Protect your business from fraud risks and ensure a secure future by taking action today. Here's what you can do:
-
Stay informed
Stay on top of emerging fraud trends and evolving threats. Educate yourself and your team on the latest fraud prevention tactics and technological advances.
-
Assess vulnerabilities
Conduct a thorough fraud risk assessment to identify potential vulnerabilities within your organization. Evaluate your internal processes and controls to ensure they are strong and efficient.
-
Implement strong controls
Strengthen your internal controls to reduce the risk of fraud. Implement segregation of duties, regular monitoring and effective reporting mechanisms to detect and prevent fraud.
-
Train your team
Provide your employees with comprehensive anti-fraud training. Educate them on the warning signs of fraud and the importance of promptly reporting suspicious activities.
-
Partner with experts
Seek guidance from trusted professionals such as the ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø's Forensic department. They can provide expert advice, tailored solutions and ongoing support in fraud risk management and forensic consulting.
-
Foster a culture of integrity
Promote a culture of transparency, accountability and ethical behavior within your organization. Encourage employees to speak up and report any suspected fraudulent activity through confidential reporting mechanisms.
Stay alert: trends and new threats
As fraud risk evolves,Ìýorganizations must also stay informed about broader patterns of corporate crime, occupational fraud and fraud schemes that can impact both national and global markets.
Recent fraud news highlights a surge in fraud involving financial institutions, complex money laundering operations and even sophisticated Ponzi schemes.Ìý
Cases tracked by the Securities and Exchange Commission (SEC) and the Department of Justice reveal that wire fraud, monetary fraud and other illegal activities on the increase.
The financial service sector, in particular, is increasingly exposed to criminal activity, including bank account manipulation, as well as high-value asset forfeiture and civil forfeiture proceedings.
Learning from the biggest white-collar crimes reported globally and staying updated on crime news is vital for strengthening defenses and quickly reporting financial crimes.
Fraud schemes involving the Securities and Exchange Commission (SEC) investigations underscore the critical importance of internal controls and transparency.
Don't wait until fraud strikes
Take proactive steps to protect your business against evolving threats. Connect with our practice to receive expert guidance and tailored solutions in fraud risk management. Together, we can strengthen your organization's defenses and ensure its future security and resilience.
