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Fraud Risk Assessment

Identify fraud risks in your business and strengthen the checks that matter.

Discuss Your Fraud Risks

    Fraud risk assessment

    About Our Fraud Risk Assessment Services

    An invoice looks familiar, but it gets paid again. A request to change bank details comes from a supplier’s email account, so nobody calls to confirm it. An employee leaves, but their system access stays active.

    These are the kinds of gaps a fraud risk assessment looks for.

    Vertex Compliance reviews the processes you want checked and considers how someone could misuse them. We speak with your employees, examine selected records and look at the checks already in place. The report explains what we found, why it matters and which changes would help reduce the risk.

    What Our Fraud Risk Assessment Service Covers

    The assessment looks at how fraud could occur in your business and whether your controls would prevent it or help someone notice it.

    1. Finding Opportunities for Fraud

    We start with the work itself: how purchases are made, payments are approved, employees are paid or refunds are issued. Could someone create a false supplier? Could the same expense be claimed twice? Would anyone notice a refund going to a different account? The questions depend on your operations. We consider employees, customers, suppliers and people acting together, then document the fraud scenarios relevant to each process.

    2. Reviewing Your Existing Checks

    We look at what your business relies on to stop these scenarios. That may be a second approval, a reconciliation, a limit on system access or a call to verify a payment request. We ask who carries out the check and review selected records. Exceptions matter too. If an urgent request allows normal approvals to be skipped, we examine what oversight remains and whether the decision is recorded.

    3. Setting Priorities for Improvement

    Not every gap needs the same response. We assess the likelihood of each fraud scenario and the harm it could cause, taking existing controls into account. The report explains where further action is needed and suggests changes. Some may be simple; others may involve a system or process change. We discuss the recommendations with your team so management can agree on priorities, responsibilities and target dates.

    Our Approach

    We follow the process with your team, check the available evidence and discuss the findings before finalising the report.

    1
    Decide What to Review

    We ask what prompted the assessment and where you have concerns. There may have been an incident, a change in responsibilities or a process that nobody has checked for some time. We agree on the areas to examine and the records needed.

    2
    Speak With the People Involved

    The employees doing the work explain how it happens in practice. We ask about approvals, handovers and changes to information. We also discuss busy periods and staff absences, when people may take shortcuts to get a task finished.

    3
    Check Examples of the Work

    We review an agreed sample of records. This helps us understand whether the checks described are being carried out and what evidence is kept. If a record is missing or does not support a conclusion, we make that clear rather than assume the check happened.

    4
    Share the Findings

    We check factual points with the relevant teams and explain the risks identified. Your final report includes the findings and recommended actions. A fraud risk register and action tracker can also be included in the agreed assignment, giving management a way to follow up.

    Who Are Our Fraud Risk Assessment Services For?

    Banks and Financial Institutions
    Fintech and Payment Businesses
    Trading and Service Companies
    Businesses With Purchasing, Payroll or Cash Operations

    Ideal for UAE businesses reviewing their fraud controls, introducing new processes or following up on concerns raised by employees, auditors or management.

    Why Choose Vertex Compliance

    Focus on Your Processes

    We look at how work gets done in your business and where someone could take advantage of a gap.

    Checks Against Records

    Selected documents help us assess whether controls are being followed and whether decisions have supporting evidence.

    Easy-to-Understand Findings

    We explain the issue and its possible consequences without making your team work through unnecessary technical language.

    Clear Actions to Consider

    Recommendations relate to the gaps found, with proposed priorities and responsibilities for management to review.

    Meet the Experts

    Sarah Khan
    Vasantha Madan Mohan

    Managing Director

    Sarah Khan
    Sridhar Rajam

    Associate Partner

    Sarah Khan
    Arjun Mohan

    Director – Sales & Marketing

    Frequently Asked Questions

    A review can be useful before a loss occurs, particularly if your business has grown or changed how it operates. No reported incidents does not establish that every control is working. The assessment helps you examine the areas where there may be exposure.
    Yes. The assignment can focus on an area such as payroll, purchasing or supplier payments. We may also need to examine connected steps. For example, a payment review could include how suppliers are added and how their bank details are changed.
    We raise concerns through the reporting arrangement agreed with your business. A fraud investigation is separate work and would need its own scope. This assessment does not determine guilt or establish all the facts surrounding a suspected incident.
    That depends on the scope and how readily the records are available. We need input from the people who perform the work and those who oversee it. We agree on meetings and document requests with your contact so employees know what to prepare.
    Management should review the findings, decide which actions to take and assign responsibility for them. Completion dates help keep the work moving. Once changes are made, someone should check that they address the original weakness.
    No. It identifies fraud risks and controls weaknesses within the agreed scope. It cannot prove that your business is free from fraud or guarantee that an incident will not happen.