Fraud Risk Wheel

A unique tool to help transform how your organisation manages its fraud risk process

When it comes to managing fraud risks, it’s tempting to simply file them away in a risk register without any review or action. 

But identifying and assessing the risks is only the first step. Organisations must also understand the factors and behaviours that create the fraud risks and develop clear mitigation plans.

To help public sector organisations manage their fraud risk process more effectively – and boost their fraud defences - CIPFA has developed the Fraud Risk Wheel.

If you have purchased the Wheel or your organisation subscribes to the Centre, click here to login and begin using it. 

About the Wheel

The Wheel is an interactive, web-based tool that presents detailed guidance on different fraud risks. 

The guidance includes how the different risks arise, the steps or controls that can be put in place to mitigate them and case studies to illustrate how similar organisations have dealt with the issues.

The information is presented online in a visually appealing ‘wheel’ format – you simply click on different segments of the wheel to drill down to further, detailed information.

What fraud risks are covered?

The tool, which is accessed via the CIPFA website, features four of the most prevalent fraud risks:

  • Expenses fraud
  • Procurement fraud
  • Gifts and hospitality fraud
  • Pensions fraud

More risk types will be added later in the year.

How can the Wheel be used?

The Wheel is designed to help you:

  • conduct your fraud risk assessment and create a fraud risk mitigation plan – use the tool to check that you have included all possible risk factors and the associated controls
  • present fraud risks to your senior management team in a dynamic and engaging way – simply by logging into the CIPFA website
  • train staff on how to identify possible fraudulent activity and the actions they can take to prevent fraud from occurring
  • review the organisation’s fraud risks in response to major changes, such as service mergers, major new contracts or significant staff changes.

Price

The Wheel, including the first four risk types listed above, costs £495 +VAT.

If your organisation subscribes to the Counter Fraud Centre, you will receive a 10% discount.

Buy now

Purchase the Wheel online.

If you have any queries about the Wheel, please contact us on +44 (0)207 543 5600 or at customerliaison@cipfa.org

Access the Wheel

If you have purchased the Wheel or your organisation subscribes to the Centre, click here to login and begin using it.