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.- 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
Failure to Prevent Fraud
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Failure to Prevent Fraud: Types of Fraud
Failure to Prevent Fraud: Offence
Failure to Prevent Fraud: Scope
Understanding Failure to Prevent Fraud (FTPF) in Financial Services
Learn how the Failure to Prevent Fraud offence works, what it means for our Company, and how you can help reduce risk by recognising fraud and supporting prevention procedures.
Understanding Failure to Prevent Fraud (FTPF) in Financial Services 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.