Service 07 of 11
Fraud Risk Assessment & Prevention
Prevention before investigation. We assess where your organisation is exposed to fraud and help you put proportionate defences in place, including the reasonable procedures expected under the UK failure to prevent fraud offence.
- Why now
- Large organisations can be liable for failing to prevent fraud
- Outcome
- A clear, defensible position for the board
- You get
- A documented fraud risk assessment
- Also covers
- Policies, training and speak-up channels
Overview
What is fraud risk management?
Fraud risk management is how an organisation identifies where it could be defrauded, or where fraud could be committed for its benefit, and puts proportionate measures in place to prevent and detect it.
Since 1 September 2025, large organisations in the UK can be criminally liable under the failure to prevent fraud offence unless they had reasonable fraud prevention procedures in place. A documented fraud risk assessment is the foundation of those procedures and of a defensible position.
What it stands for
Who it’s for
When you need to show fraud is being prevented
Since 1 September 2025, large organisations can be prosecuted if an associated person commits fraud for their benefit and they did not have reasonable fraud prevention procedures. A documented fraud risk assessment is the starting point.
- Large organisations in scope of the failure to prevent fraud offence
- Boards wanting assurance that fraud risks are understood
- Organisations without a current fraud risk assessment
- Businesses updating anti-fraud and whistleblowing policies
How it works
Identify, assess and strengthen
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Stage 1
Identify
We identify fraud schemes relevant to your sector, processes and third parties.
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Stage 2
Assess
We rate each risk for likelihood and impact and map the controls already in place.
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Stage 3
Strengthen
We recommend proportionate controls, policies, training and reporting channels.
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Stage 4
Evidence
We help you document your procedures so you can show they are reasonable.
Preventing fraud costs far less than investigating it.
What you receive
A defensible fraud prevention framework
Every deliverable is tailored to your organisation and written for the people who will use it.
Fraud risk assessment
Schemes, ratings and existing controls.
Reasonable procedures review
Gaps against the government guidance.
Anti-fraud policy
Clear expectations and responsibilities.
Whistleblowing arrangements
Policy and reporting channel design.
Awareness training
Practical sessions for staff and managers.
Board briefing
Your exposure and actions in plain terms.
Benefits
The value we add
Reduced legal exposure
Reasonable procedures that address the failure to prevent fraud offence.
Lower losses
Controls targeted where fraud is most likely.
A documented defence
Clear records of how you assess and manage fraud risk.
Speak-up culture
Whistleblowing arrangements people trust and use.
Targeted spending
Investment directed to the highest-risk areas.
Board assurance
A clear picture of fraud exposure and what is being done.
Senior-led
Delivered by chartered and certified professionals (ACA, ACCA, CIA).
Fixed fee
Scope and price agreed in writing before work starts.
Standards-aligned
Methodology aligned to the IIA Global Internal Audit Standards.
Frequently asked questions
Fraud Risk Management: your questions
How much does a fraud risk assessment cost?
It depends on the size of your organisation and the number of business areas assessed. We agree a fixed fee after a scoping call.
What is the failure to prevent fraud offence?
A corporate offence under the Economic Crime and Corporate Transparency Act 2023, in force since 1 September 2025. Large organisations can be liable if an associated person commits fraud intending to benefit them, unless they had reasonable prevention procedures.
Does the offence apply to us?
It applies to large organisations meeting at least two of: more than 250 employees, more than £36 million turnover and more than £18 million total assets. We can help you confirm whether you are in scope.
What counts as reasonable procedures?
Government guidance points to top-level commitment, risk assessment, proportionate procedures, due diligence, communication and training, and monitoring and review.
We are not in scope. Is this still useful?
Yes. A fraud risk assessment helps any organisation focus its controls where losses are most likely.
Page last updated 3 November 2026
Fraud Risk Management by sector
- Corporates & listed companies
- Private & family-owned businesses
- Public sector & local government
- Housing associations
- Education
- Charities & not-for-profit
- Healthcare & primary care
- Construction, real estate & energy
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Ready to strengthen your fraud defences?
Book a free 20-minute call to talk through your situation.