Fikret Sebilcioğlu Discusses Ethics, Trust and Fraud Risks at SATPRODER Select Istanbul

Fikret Sebilcioğlu, Founder and CEO of Cerebra, delivered a presentation titled “Seeing the Unseen: Ethics, Trust and Fraud” at the SATPRODER Select Istanbul event on 17 October 2026. Drawing on findings from the Fraud Perception in the Turkish Business Community 2026 Study, Sebilcioğlu explored fraud risks and the importance of ethical culture and corporate trust.

Organized by SATPRODER (Purchasing Professionals Association) at the Marriott Hotel Asia in Istanbul, the event brought together procurement professionals and representatives from the business community.

During his presentation, Sebilcioğlu emphasized that fraud risks extend beyond financial losses and internal control weaknesses, highlighting the need to consider a broader range of factors, including economic pressures, employee behavior, ethical leadership and corporate trust.

Understanding Fraud Risk: Pressure, Opportunity and Rationalization

Sebilcioğlu examined the factors that contribute to fraud through the Fraud Triangle framework. He highlighted the role of financial and personal pressures, opportunities arising from internal control weaknesses, and rationalization processes through which individuals justify unethical conduct.

In this context, he shared findings from the Fraud Perception in the Turkish Business Community 2026 Study, a joint initiative by Cerebra and the Ethics and Reputation Society (TEİD).

According to the study, 63% of respondents believe that current economic conditions are increasing fraud risks within organizations, while this figure rises to 69% when considering expectations for the next 12 months. Furthermore, 37% of respondents identify income inequality and employees’ sense of entitlement to certain benefits as the most significant economic factor contributing to increased fraud risk.

The Importance of Ethical Culture and Corporate Trust

Another key focus of the presentation was the extent to which ethical values are reflected in everyday organizational practices and the level of trust employees place in management.

Sebilcioğlu highlighted differences between management’s perceptions of ethical culture and employees’ day-to-day experiences, noting that 82% of senior management respondents viewed their organization’s ethical leadership positively, compared with only 63% of middle managers and professionals.

Sebilcioğlu also emphasized that trust in whistleblowing mechanisms plays a critical role in combating fraud. He pointed out that while 95% of respondents stated that they would report fraud if they witnessed it, 45% of those who had actually witnessed fraud had not used formal reporting channels.

He further noted that these findings underscore the importance of fostering an organizational culture in which employees feel safe to speak up and ethical violations are addressed fairly and consistently.

Turning Awareness into Concrete Action

Sebilcioğlu also stressed that managing fraud risks is not solely the responsibility of internal audit or compliance functions. He highlighted the important role of all business functions, including procurement, in strengthening ethical culture and identifying potential risks at an early stage.

A key takeaway from the presentation was that recognizing fraud risks is not enough. Awareness must be supported by strong internal controls, ethical leadership, trusted whistleblowing mechanisms and concrete practices embedded in everyday business operations.

At Cerebra, we were pleased to participate in this valuable event, which contributed to raising awareness of fraud risks and strengthening ethical culture across the business community.

We extend our thanks to SATPRODER, everyone involved in organizing the event, and all participants.

Photos from the launch event are available in the album below.