Srilanka, Feb. 2 -- In today's rapidly evolving and turbulent business environment, fraud has become a pervasive issue, affecting economies worldwide, with Sri Lanka's corporate sector being no exception. Fraud, defined as intentional deception, misappropriation of assets, or financial misrepresentation for personal gain, results in severe financial and reputational damage to companies. As a result, the corporate sectoris compelled to make significant efforts to estimate the prevalence of fraud and its associated costs. Not all instances are detected, and even fewer are reported. The Association of Certified Fraud Examiners (ACFE), in its Occupational Fraud 2024: A Report to the Nations, reveals that 1,921 corruption cases from 138 countrie...