Financial Crime Risk Management

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Fraud

Directors are responsible for safeguarding company assets and taking reasonable steps to prevent/detect fraud.

The level of resource to apply is influenced by risk-appetite and whether current controls are sufficient to mitigate fraud risk.

We assist clients to assess existing fraud controls and, to identify and implement 'reasonable' measures.


The Financial Conduct Authority ('FCA') expects senior management to consider the implications and breadth of fraud risk.

The cost of fraud is not only a 'bottom-line' issue. The FCA expects firms to maintain appropriate systems and controls.

We assist clients to comply with regulatory expectations for fraud, error or irregularity (e.g. per FCA Handbook - SUP 15.3.17).


Senior Management, Audit Committees and Regulators expect fact-based findings on fraud risk and loss events.

Stakeholder confidence may be impacted if an identifiable control weakness is not addressed and further fraud occurs.

We help with Fraud Response Plans, establishing minimum standards for incident response and investigations.


Our Services
Advisory & Investigation

FCRM assists clients to identify and assess fraud risk in internal business process and the operating environment. We also investigate loss events and trace assets misappropriated through fraud or other impropriety. We provide independence, objectivity and experience when responding to fraud issues.

Useful links
The Fraud Advisory Panel
Financial Fraud Action UK

The Serious Fraud Office

Action Fraud UK

FCA and Fraud Reporting

The Fraud Act 2006

FAQ on Fraud