Fraud Risk Management: Prevention, Detection and Response in Financial Services
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Course Overview
Fraud continues to present significant financial, operational, and reputational risk for UK-regulated financial services firms, requiring a structured, proactive, and well-evidenced approach to prevention, detection, and response. This interactive half-day workshop is designed for senior compliance and financial crime professionals responsible for overseeing fraud risk frameworks and advising senior management on control effectiveness and emerging threats.
The course provides a practical overview of key fraud typologies relevant to financial services and examines the regulatory and legal expectations that shape firms’ responsibilities. It focuses on how to design, operate, and evidence proportionate, risk-based systems and controls across the full fraud risk lifecycle, including governance, risk assessment, prevention measures, detection, investigation, escalation, and reporting.
Strong emphasis is placed on clear accountability, effective decision-making, and robust escalation pathways, as well as fostering a culture that supports ethical behaviour and strong anti-fraud and anti-bribery and corruption standards. The workshop enables participants to critically assess their firm’s fraud arrangements and clearly articulate control effectiveness to regulators, auditors, and Boards.
Learning outcomes
By the end of the session, participants will be able to:
Understand current UK regulatory and legal expectations relating to fraud prevention and detection
Identify key fraud typologies affecting financial services firms and assess their relevance to their business model
Design and evaluate proportionate, risk-based fraud frameworks aligned to firm size, complexity, and risk profile
Assess the effectiveness of governance, accountability, and senior management oversight of fraud risk
Understand how fraud risk assessment, prevention, detection, investigation, and reporting should operate as an integrated framework
Evidence fraud-related decision-making, escalation, and control effectiveness in a regulator-ready manner
Promote a strong anti-fraud and ethical culture, including alignment with anti-bribery and corruption expectations
Who this course is for
This workshop is designed for professionals with responsibility for fraud and financial crime oversight, including:
Heads of Compliance and Financial Crime
MLROs and Deputy MLROs with fraud oversight responsibilities
Fraud Risk and Financial Crime Managers
Senior Compliance and Risk professionals
Internal audit, oversight, and assurance professionals
Senior managers accountable for fraud risks
The course is particularly relevant for UK-regulated firms seeking to strengthen fraud controls, respond to evolving fraud threats, and demonstrate robust oversight and accountability to regulators and Boards.