Fraud Risk Assessment for Small and Medium Businesses

A Fraud Risk Assessment is a structured review of your business operations designed to identify where you are vulnerable to financial loss. It examines your customer base, the products or services you provide, your payment methods, and the overall structure of your business model. Just as importantly, it evaluates internal processes, responsibilities, and control systems.

This assessment highlights and prioritizes key fraud threats such as payroll fraud, employee fraud, chargeback abuse, supplier and vendor fraud, and dropshipping-related risks. By analysing how money flows through your organisation and where oversight may be limited, we can pinpoint the areas most exposed to abuse.

Why is this important?
Understanding your fraud risk exposure allows you to take proactive steps before losses occur. With the right controls and monitoring in place, businesses can significantly reduce the likelihood and impact of financial fraud while strengthening operational resilience.

Training, Mentoring and Coaching

Putting strong fraud controls in place is only effective if your team understands how to apply them in daily operations. We provide fraud prevention training, mentoring, and coaching to ensure employees at all levels are confident in following new policies and financial control procedures.

Our training programs can be delivered through online self-paced courses or live virtual workshops, making it easy to integrate learning into busy work schedules. Training focuses on helping staff understand new processes, recognize fraud risks, and follow internal controls correctly.

Mentoring goes a step further by supporting employees as they begin applying these procedures in real situations. This is especially valuable for finance staff, managers, and new hires who need guidance while adapting to updated workflows. Coaching offers a more personalized approach, focusing on specific responsibilities or fraud risk areas. This support is available to employees at all levels — including business owners who want a deeper understanding of fraud risk and prevention strategies.

Why is this important?
Fraud prevention depends on consistent human behavior as much as good systems. A well-informed team creates a culture of accountability, ensures fraud controls are applied correctly, and helps protect your business from avoidable financial losses, now and as your company grows.

Process And Workflow Design for Fraud Prevention

Once fraud risks have been identified, the next step is putting practical safeguards in place. We design custom processes and internal workflows that reduce opportunities for financial fraud while remaining efficient for your team’s day-to-day work.

Our approach focuses on embedding fraud prevention into normal operations. This may include improving approval structures, strengthening segregation of duties, introducing verification steps, and clarifying financial responsibilities. If your business already has a workflow or operations specialist, we collaborate with them to ensure new controls fit seamlessly into existing systems. If not, we develop clear and professional Standard Operating Procedures (SOPs) that your team can follow and use for training.

Why is this important?
Fraud prevention measures only work when they are consistently applied. Well-designed processes and workflows create a sustainable, long-term way to reduce financial losses, improve accountability, and turn fraud risk mitigation into part of everyday business practice rather than a one-off fix.

Fraud Mitigation Strategy And Ongoing Monitoring

Fraud methods are constantly evolving, which means your fraud prevention approach must evolve as well. When one control closes a loophole, fraudsters often look for new weaknesses to exploit. While no business can eliminate fraud risk entirely, strong monitoring and adaptive controls make your organization a far less attractive target.

Once fraud mitigation measures are in place, we help you develop a long-term fraud mitigation strategy supported by ongoing monitoring. This includes reviewing financial data, tracking control effectiveness, and identifying unusual patterns that may signal emerging fraud risks. By using data analysis and performance monitoring, we ensure your fraud prevention systems remain effective as your business grows and changes.

Why is this important?
Fraud prevention is often reactive because it relies on analyzing past incidents. However, continuous monitoring allows you to move toward a more proactive approach: identifying warning signs early, adapting controls quickly, and reducing the likelihood of significant financial losses.