What strategies can businesses employ to mitigate the risk of fraud in international contracts, given the complexities of international law, different regulatory $,$ and the challenges of enforcing contracts across borders?environments Businesses should rely solely on informal agreements and trust$-$building activities to mitigate the risk of fraud$2$ pointsSave ATo mitigate the risk of fraud, businesses should engage in thorough due diligence, use secure payment methods, seek legal advice, and leverage international trade organizations and credit agencies to verify the credibility of foreign partnersThe risk of fraud is negligible in international commerce, so businesses do not need to implement specific strategies to address it$.$ O Fraud can be completely prevented by including stringent penalties in contracts without the need for additional due diligence or secure payment methods