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Effective from Oct 11 2022 - Oct 10 2022 To view other versions open the versions tab on the right
Principle
A fraud awareness programme should be defined, approved, and conducted for employees, customers and third parties of the Member Organisation.
Control Requirements
a.
The fraud awareness programme should be defined, approved, and conducted to promote awareness of fraud risks, provide education on preventing, detecting, and responding to potential fraud and create a positive Counter-Fraud culture.
b.
The fraud awareness programme should include coverage of:
1.
Employees of the Member Organisation.
2.
Customers of the Member Organisation.
3.
Third parties who hold relationships with the Member Organisation.
c.
The fraud awareness programme should consist of training, education and awareness materials directly linked to risks and threats identified in the Fraud Risk Assessment.
d.
The fraud awareness programme should:
1.
Outline the nature, scale and scope of training and education to be delivered.
2.
Be tailored to the different target groups.
3.
Be delivered via multiple channels.
e.
The activities of the fraud awareness programme should be conducted periodically and throughout the year.
f.
Member Organisations should ensure that the programme is updated at least annually to account for changes in the fraud threat landscape or in response to new fraud threats identified in Intelligence Monitoring.
g.
Where a new or emerging fraud typology may impact the Member Organisation and its customers, Member Organisations should take immediate action to make employees, customers and relevant third parties aware of the threat and preventive measures to be taken (where applicable).
h.
Member Organisations should monitor and evaluate the effectiveness of the fraud awareness programme and implement improvements where required.
