Designing and Executing a Strong Fraud Risk Management Program


The fraud risk landscape has evolved rapidly and the risk of fraud is present in every industry, particularly since the COVID-19 pandemic. A strong fraud risk management (FRM) program is a powerful tool that organizations can implement to address emerging fraud risks. This resource will dive into what organizations need to consider to design and execute a strong fraud risk management program.

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How organizations can effectively identify areas of vulnerability – What are some of the emerging fraud risks that organizations need to be aware of?  You’ll learn more about emerging fraud risks to consider and how organization can use risk assessment to identify fraud risks across organizations. 

Collaborate cross-functionally to address and mitigate fraud risks – It’s important that business departments including compliance, IT, internal audit, and human resources among many all collaborate to implement controls and be able to address or issue red flags quickly. 

Strengthen existing investigations and monitoring processes – FRM programs should include an investigate process with corrective measures in place to investigate and remediate fraud incidents. Additionally, consistent and ongoing monitoring will help an organization improve the FRM process. 

TerchLeverage technology to enhance FRM programs – Technology is constantly evolving and can be used as a powerful tool to enhance an organization’s FRM program. How can organizations apply technology to improve their FRM programs? 

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Categories: Risk