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Understanding Failure to Prevent Fraud for Managers

Learn how the Failure to Prevent Fraud offence works, what it means for our Company, and how you, as a manager, can help reduce risk by recognising fraud and supporting prevention procedures.
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  • 35 Minutes
  • Managers

Learning objectives

  • Appreciate the aim and scope of the failure to prevent fraud offence
  • Identify the types of fraud that may be covered by the failure to prevent fraud offence
  • Use the fraud triangle to recognise red flags and risk indicators
  • Implement reasonable fraud prevention procedures
  • Know how to report concerns about fraud or fraudulent practices

    What can you expect your employees to learn?

Welcome

Learning objectives

What is fraud?

  • What is the Economic Crime and Corporate Transparency Act?
  • What is the Failure to Prevent Fraud offence?
  • Why does FTPF matter?
  • Who is the FTPF aimed at?

Who is an associated person?

  • You decide: Associated person or not?
  • Scenario: The whistleblower

Territoriality, subsidiaries and supply chains

  • You decide: Could they be held accountable?

Intention to Benefit

  • Scenario: Martha's mis-selling

Types of fraud covered by the FTPF offence

  • You decide: Is it relevant to FTPF?
  • You decide: What type of fraud is it?

The fraud triangle

  • You decide: Motivation, opportunity, rationalisation

Our fraud prevention framework: The six principles

  • Your role
  • Best practice

Reporting and whistleblowing

  • You decide: Reporting fraud

Scenario: The dilemma

Scenario: The suspicious phone call

Summary

Affirmation

Assessment

Complete

 

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Your questions, answered

Fraud Prevention

Failure to Prevent Fraud

Common FAQs

How can I ensure employees are aware of our Fraud Prevention policies and procedures? 

Our Policy Hub makes it easy to distribute your Fraud Prevention policies to all employees and track their acknowledgement. You can set up automated reminders to ensure that employees review and agree to comply with these policies, providing a clear record of engagement to support compliance.

How can employees report suspicions of fraud anonymously?

Our Whistleblowing Register provides a secure and anonymous platform for employees to report any suspicions of fraud. This tool ensures that employees can raise concerns without fear of retaliation, allowing your organisation to address potential issues promptly and transparently.

Are the courses SCORM-compliant?

Yes. This means they can be delivered via the Skillcast Portal or any other SCORM-compliant Learning Management System.

What other tools are needed beyond training?

A comprehensive compliance solution often needs more than just training. Alongside e-learning, tools like declarations, surveys, and registers that track compliance tasks are usually essential. Skillcast provides full support to help you set up these additional tools.

Can users only view the courses assigned to them?

Yes. Users can view all the courses in the portal that have been assigned to them as either mandatory or optional. Courses that are mandatory will have a deadline shown.

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