Guide: Investigation and prevention – protecting your business from within

Failure to prevent offences—such as bribery, tax evasion, and now fraud—place businesses at the forefront of the fight against economic crime. With increased scrutiny from auditors, businesses are required to ensure that financial statements are free from material misstatement due to fraud.

These developments make it critical for organisations to enhance their internal controls and procedures to a robust yet proportionate level. By implementing tailored measures, businesses can strengthen their defences and protect against the significant financial, regulatory, and reputational risks posed by economic crime.

In this guide, we explore how to:

• Prevent: Establish a strong fraud risk management framework and cultivate a proactive anti-fraud culture.
• Detect: Implement effective whistleblowing systems and fraud detection mechanisms.
• Respond: Manage fraud incidents with a multi-disciplinary approach, preserving evidence, and mitigating losses.
• Recover: Trace and recover stolen assets, and consider private prosecution where applicable.
• Maximise ROI: Learn from investigations to improve controls and prevent recurrence.

By following these steps, organisations can reduce their exposure to fraud and enhance their ability to respond effectively when incidents occur.