PSFA Releases Practice Note on Building a Counter Fraud Strategy

Key takeaways from the guidance include:

➡️ Benefits: The advantages of developing a counter fraud strategy such as providing a structured and co-ordinated approach;

➡️ Focus areas: Example areas for organisations to focus on when delivering their strategy such as leveraging data and intelligence;

➡️ Strategy management: Guidance on the key considerations and steps required when building a counter fraud strategy across the strategy management cycle; and

➡️ Action plans: Essential components and considerations for action plans aimed at effectively implementing counter fraud strategies.

✅ Organisations should ensure their fraud prevention strategies are comprehensive and adaptable to evolving threats, supported by robust action plans that incorporate guidance from the PSFA.