FCG 4.3 Further guidance

1FCTR contains the following additional material on fraud:

1. • FCTR 10 summarises the findings of the Small Firms Financial Crime Review. It contains guidance directed at small firms on:

   1. ◦ Monitoring activity (FCTR 10.3.3G)

   2. ◦ Responsibilities and risk assessments (FCTR 10.3.7G)

   3. ◦ General fraud (FCTR 10.3.13G)

   4. ◦ Insurance fraud (FCTR 10.3.14G)

   5. ◦ Investment fraud (FCTR 10.3.15G)

   6. ◦ Mortgage fraud (FCTR 10.3.16G)

   7. ◦ Staff/Internal fraud (FCTR 10.3.17G)

2. • FCTR 11 summarises the findings of the FSA’s thematic review Mortgage fraud against lenders. It contains guidance on:

   1. ◦ Governance, culture and information sharing (FCTR 11.3.1G)

   2. ◦ Applications processing and underwriting (FCTR 11.3.2G)

   3. ◦ Mortgage fraud prevention, investigations, and recoveries (FCTR 11.3.3G)

   4. ◦ Managing relationships with conveyancers, brokers and valuers (FCTR 11.3.4G)

   5. ◦ Compliance and internal audit (FCTR 11.3.5G)

   6. ◦ Staff recruitment and vetting (FCTR 11.3.6G)

   7. ◦ Remuneration structures (FCTR 11.3.7G)

   8. ◦ Staff training and awareness (FCTR 11.3.8G)

3. • FCTR 14 summarises the findings of the FSA’s thematic review Banks’ defences against investment fraud. It contains guidance directed at deposit-takers with retail customers on:

   1. ◦ Governance (FCTR 14.3.2G)

   2. ◦ Risk assessment (FCTR 14.3.3G)

   3. ◦ Detecting perpetrators (FCTR 14.3.4G)

   4. ◦ Automated monitoring (FCTR 14.3.5G)

   5. ◦ Protecting victims (FCTR 14.3.6G)

   6. ◦ Management reporting and escalation of suspicions (FCTR 14.3.7G)

   7. ◦ Staff awareness (FCTR 14.3.8G)

   8. ◦ Use of industry intelligence (FCTR 14.3.9G)

1FCTR 2 summarises the FSA’s thematic review Firms’ high-level management of fraud risk.