Fraud poses significant legal, financial, and reputational risks for organizations. The FBI’s 2025 Internet Crime Report highlights over $16 billion in losses due to internet-related crimes, including phishing, extortion, and personal data breaches. ISO 37003, published in May 2025, provides guidelines for managing fraud risks through prevention, detection, response, and evaluation. Effective fraud control systems help organizations comply with legal standards and mitigate liability. ISO 37003 can integrate with other ISO standards to create a comprehensive Governance, Risk, and Compliance framework, aiding organizations in safeguarding against both internal and external fraud.