Our team is one of the few niche fraud teams in the sector and have a key understanding how fraud is a key agenda item to risk and assurance teams and the HCA. We understand that once fraud is discovered it is essential for those affected and their professional advisers to react swiftly and effectively in order to minimise the losses and reputation impact they may have suffered.
Our team of fraud specialists understand that once fraud is discovered it is essential for those affected and their professional advisers to react swiftly and effectively in order to minimise the losses and reputation impact they may have suffered. More importantly, our team recognise the cost of preventing fraud is far better than having to find a cure after the event.
Helping you prevent and react to the threat of fraud
The true cost of fraud is not just a quantifiable number. It includes the loss identified to have been caused by the fraud as well as the other costs such as penalties from regulators, the cost of an investigation and disciplinary process, the loss of shareholder value as well as the unquantifiable loss in terms of reputational damage and loss of trade.
How can fraud response help your business?
- It gives you easy access to expert legal advice via our Fraud Helpline regarding concerns or advice needed relating to internal or external threats of fraud.
- Up to two bespoke in house training sessions (2 hours per session) on fraud prevention or issues relevant to areas of concern at client request.
- Annual review and advice on your counter fraud policies including your Fraud Prevention Plan, Fraud Reaction Plan and Anti Bribery Policy.
- Sector specific quarterly updates on sector fraud news and best practice.
- Clients subscribing to Fraud Response are eligible for discounted fees on all subsequent fraud related advice be it policy arrangements through to litigation advice.
- We advised in relation to a case concerning a registered provider alleging bribery for losses in excess of £2m arising out of the placement of a telecommunication contract with a third part supplier.
- Acted for a registered provider concerning a claim of bribery in excess of £500k of loss arising from collusion alleged between a contractor and an employee.
- Advised a registered provider in relation to its duty of care for protecting certain tenants from risk of fraud perpetrated by a tenant liaison officer.
- Advising registered providers in relation to disputes with insurance brokers where insurers have refused to cover losses suffered as a result of employee / third party fraud.
CIFAS (the UK’s Fraud Prevention Service) reported in November 2013 that the average cost of investigating a fraud of under £25k was £22,564, under £100k was £28,631 and for between £100k and £1m it was £39,733. Fraud Response can help reduce the risk of this potential immediate loss of investigation costs.
Fraud response for affordable housing is priced at a highly competitive rate of £500 plus VAT per month.
For more information download our Fraud Response brochure»
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