Managing Risk of Fraud
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Tackling Internal Fraud
January 2011
Tackling Internal Fraud
January 2011
Official versions of this document are printed on
100% recycled paper. When you have finished
with it please recycle it again.
If using an electronic version of the document, please
consider the environment and only print the pages which
you need and recycle them when you have finished.
© Crown copyright 2011
You may re-use this information (not including logos)
free of charge in any format or medium, under the terms
of the Open Government Licence. To view this licence,
visit http://www.nationalarchives.gov.uk/doc/opengovernment-licence/ or write to the Information Policy
Team, The National Archives, Kew, London TW9 4DU, or
e-mail: psi@nationalarchives.gsi.gov.uk.
ISBN 978-1-84532-823-8
PU1115
Contents
Page
Foreword
3
Chapter 1
Introduction
5
Chapter 2
Understanding and Measuring Fraud Risks
7
Chapter 3
Creating and Maintaining the Right Structures and Culture
to Combat Fraud
9
Chapter 4
Dealing with Fraud Risk
13
Chapter 5
Deriving Assurance over the Fraud-risk Strategy
19
Annex A
Related Legislation
21
Annex B
Anti-fraud Policy – Example
23
Annex C
Fraud Response Plan Guidance
27
Annex D
Fraud Indicators
29
Annex E
Risks and Controls in Specific Systems
31
Annex F
Money Laundering
37
1
Foreword
A recent estimate by the National Fraud Authority puts annual losses in the public sector due to
fraud at around £25 billion. At a time when Government departments have to make significant
cuts in spending, this level of loss is unsustainable and every effort should be made to cut fraud
losses significantly.
A big challenge for departments during a period of significant reform and fiscal consolidation is
to ensure that any major business change is delivered within a viable risk management and
control framework. Fraud risk is always an important...
January 2011
Tackling Internal Fraud
January 2011
Official versions of this document are printed on
100% recycled paper. When you have finished
with it please recycle it again.
If using an electronic version of the document, please
consider the environment and only print the pages which
you need and recycle them when you have finished.
© Crown copyright 2011
You may re-use this information (not including logos)
free of charge in any format or medium, under the terms
of the Open Government Licence. To view this licence,
visit http://www.nationalarchives.gov.uk/doc/opengovernment-licence/ or write to the Information Policy
Team, The National Archives, Kew, London TW9 4DU, or
e-mail: psi@nationalarchives.gsi.gov.uk.
ISBN 978-1-84532-823-8
PU1115
Contents
Page
Foreword
3
Chapter 1
Introduction
5
Chapter 2
Understanding and Measuring Fraud Risks
7
Chapter 3
Creating and Maintaining the Right Structures and Culture
to Combat Fraud
9
Chapter 4
Dealing with Fraud Risk
13
Chapter 5
Deriving Assurance over the Fraud-risk Strategy
19
Annex A
Related Legislation
21
Annex B
Anti-fraud Policy – Example
23
Annex C
Fraud Response Plan Guidance
27
Annex D
Fraud Indicators
29
Annex E
Risks and Controls in Specific Systems
31
Annex F
Money Laundering
37
1
Foreword
A recent estimate by the National Fraud Authority puts annual losses in the public sector due to
fraud at around £25 billion. At a time when Government departments have to make significant
cuts in spending, this level of loss is unsustainable and every effort should be made to cut fraud
losses significantly.
A big challenge for departments during a period of significant reform and fiscal consolidation is
to ensure that any major business change is delivered within a viable risk management and
control framework. Fraud risk is always an important...