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Compliance Officers Playbook

Understanding Thematic Fraud Risk Assessments

15 Jan 2025

Description

This podcast episode explains Thematic Fraud Risk Assessments (TFRAs), a crucial fraud prevention tool. TFRAs focus on specific areas within an organisation, unlike broader assessments, allowing for targeted risk identification and mitigation. The episode details the steps involved in conducting a TFRA, including identifying themes, engaging stakeholders, assessing risks, and implementing mitigation strategies. Best practices and common pitfalls are also highlighted, emphasising the importance of data-driven analysis, stakeholder involvement, and regular review for effective fraud prevention. The overall message promotes TFRAs as a dynamic process vital for protecting organisations from fraud.

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