Fraud and Scams Risks Discussion Group 2023

26-07-2023 12:00PM 26-07-2023 1:00PM
Online - Livestream, New South Wales, Australia
Member Discussion and Working Party Activities

Please note: You must be a current GRCI Member to participate in these groups and the GRCI Code of Ethics applies to the behaviour of participants in these groups, as does Chatham House Rules.

GRCI members have suggested the convening of a group to specifically discuss fraud scams risks and their management as relevant to the compliance function within organisations. A particular off-shoot of discussions for fraud risk will be relevant to our members undertaking AML compliance activities as well.

The observation of members is that many fraud and scams risks intersect their compliance activities and responsibilities and require a more cooperative approach in line two, to manage these risks and/or when they eventuate.

This discussion group will have progressive, adaptive and standing agenda items with some of the intended outcomes to include:

  • Understanding the regulatory intersect with fraud and scam risk
  • Communicating with your fraud risk partners
  • KRIs that can genuinely assist with evaluating and setting controls for your fraud risks
  • Reporting to the board – who, what and how
The group will also look at case studies to review for lessons learned and potential resources to be developed for the use of the membership.

The discussion group will meet quarterly from February to November in 2023 with draft dates below.

Please put these dates in your diary in advance and they will be confirmed in the week prior.

Meetings will be held quarterly on the third Wednesday of the month, (subject to school holidays), 12 - 1 pm Sydney time via MS TEAMS. 

Please register for this group before mid January to be included in the yearly meetings. Members may join by request at a later date but as there will be no minutes taken of these meetings, late comers will NOT be supplied notes from the previous sessions.

Further topic details will be circulated in advance of each meeting

Meeting Date Agenda theme
Q1 MTG - 26 April 2023 Defining Fraud and Scam Risks
Q1 MTG - 26 April 2023 Regulatory intersect with Fraud and Scam Risks – who is concerned and who requires reporting
Q1 MTG - 26 April 2023 Case Study review
Q2 MTG - 26 July 2023 KRI’s or data for evaluating fraud and scam risks – where are you getting your intel from?
Q2 MTG - 26 July 2023 Fraud and scam risk controls  - who does what
Q2 MTG - 26 July 2023 Fraud and scam risk controls – who is monitoring what and how do you stay informed
Q3 MTG - 11 October 2023 Reporting to the Board – how are you communicating your risks and their management
Q3 MTG - 11 October 2023 Board assurance of fraud and scam risk – the integral role of the compliance management system
Q3 MTG - 11 October 2023 Events of 2023 – update to items previously covered
Q4 MTG - 8 November 2023 Review of year to date – summary discussion