Fraud and Corruption Risk Management

In today's complex business environment, where technological advancements and globalisation have expanded opportunities for fraud and corruption, our team provides a proactive approach to identify, prevent, and mitigate threats. We assist in proactively managing fraud risk and protecting your organisation through: fraud risk assessments, fraud strategy design and implementation, transaction monitoring, policy development, implementation of whistleblowing facilities, delivery of fraud training to key staff, and independent reviews of third parties.

Our team of experts will help you adopt a holistic and proactive approach to fraud and corruption risk management, which can help to better protect your assets, reputation, and overall sustainability in today's complex business landscape.

How we assist clients

Fraud risk assessments
Fraud strategy design and implementation
Training
Independent reviews of third parties
Cyber fraud risk management training

Fraud risk assessments

Fraud and corruption are rapidly evolving risks, heightened by increased economic pressures and rise in use of data and technology. The sophisticated corruption schemes have also increased the scale of potential financial loss and reputational damage. We assist clients in undertaking fraud risk assessments within their own operations or third party operations (such as project partners or subsidiaries) as a proactive exercise to mitigate these risks by:

Proactively identifying governance and process or implementation gaps which could be exploited to commit fraud through detailed review activities including stakeholder workshops and sample transaction testing.
Identifying opportunities and developing a prioritised action plan together with key stakeholders to address identified gaps through practical and proportionate activities.

Fraud strategy design and implementation

We have assisted clients in designing and developing a comprehensive fraud strategy, considering interrelated elements including governance and technology to prevent, detect and respond to fraudulent activities within an organisation. At PwC we tailor the strategy design to the specific needs and vulnerabilities of your organisation and work with relevant stakeholders to ensure the strategy is tailored to organisational goals and enhances operational activities whilst providing enhanced comfort relating to fraud risk. We have assisted in the implementation of a number of areas of the fraud strategy including policy development, technology system identification and implementation, and incident response support on a managed service basis.

Training

We have provided training relating to fraud risk awareness to a range of organisations in a number of industries, from operational staff through to Board level audiences. Through delivering interactive sessions which speak to your organisations’ fraud risk landscape, we ensure effective and memorable sessions which equip attendees with enhanced awareness to protect your organisation against fraud risks. Our training content leverages our in-depth understanding of the continuously evolving fraud typologies and our experience in supporting clients in responding to fraud instances, understanding where typical knowledge gaps arise and addressing these with case study sessions.

Independent reviews of third parties

When engaging, partnering or continuing relationships with third parties, your organisation needs to mitigate potential risks such as fraud. We evaluate the practices, procedures and integrity of external entities so that they do not pose undue risk to your organisation.