<h1>Fraud risk management must prioritise governance, robust controls and timely reporting to prevent large banking losses.</h1> The address identifies three main fraud categories-technology related, KYC related and advances related-and notes technology frauds predominate by number while advances frauds cause most monetary loss. It links large advances frauds to deficient appraisal, poor post disbursement supervision, multiple financing and collusion with professionals, and urges prompt information exchange among lenders, regular legal audits of securities, clearer fraud definitions for loan accounts, enhanced IT and transaction controls, CEO and Board ownership of fraud management, fair staff accountability and consideration of a centralized fraud registry.