Fraud is usually taken to mean the gaining of an illicit advantage through deception and in particular the manipulation of financial information or accounting records.

In the UK, the criminal offence of fraud has been codified by the Fraud Act 2006.

Fraud case studies

A series of three short videos providing examples of different types of fraud that members may encounter in performing their roles.

• How to prevent invoice fraud: a real-life case of how a business that lost €500,000 to cyber criminals
  Chartered accountants more than ever need to be alert to potential signs of fraud and manipulation of accounting records. We examine a real case of a business which lost half a million euros to invoice fraud.
• The financial controller who stole £20,000 from her company
  The risk of fraud committed by staff and contractors within organisations is on the rise. Much of the work carried by chartered accountants can help prevent internal fraud from happening in their organisations.
• The chief financial officer who tried to trick the market
  Manipulation of a company’s financial position can be difficult to prevent when carried out by a senior staff member. Chartered accountants  are well placed to help organisations assess whether controls are sufficiently robust to detect and deter fraudulent behaviour.  

Fraud Advisory Helpline

This is an anonymous telephone service offering supportive practical advice to ICAEW members, affiliates, ICAEW students and staff in eligible firms with member firm access.

• Fraud Advisory Helpline

Fraud Advisory Panel

A registered charity established by ICAEW which works on the prevention of fraud through legal and procedural reform and through the provision of advice to individuals and businesses.

• Fraud Advisory Panel

Fraud-related articles

• Why does the UK have such a problem with fraud?
• ICAEW: “insufficient” fraud prevention for COVID-19 grants
• Funding concerns over new Public Sector Fraud Authority
• Why HMRC impersonation scammers are so successful
• Accountancy Europe: toughen the financial reporting ecosystem against fraud
• Charities battle seismic shift in cybercrime
• HMRC flags self assessment scam surge
• Accountants must be wary of COVID-support fraud
• CCAB report on Phishing and Insider Fraud
• Silence of the scams

Insights article series: Economic Crime

In these articles and videos we explore the latest trends and perspectives on economic crime from around the world, and look at how chartered accountants can help prevent it happening.

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Reports and publications

• Business and Economic Crime in an International Context
  This report provides a review of international law and practice in relation to crimes committed by or on behalf of business.

Helpsheets

• Fraud issues for members in business
• Fraud issues for members in practice
• Advising fraud victims: Recovery

Fraud Act 2006

This defines the criminal offence of fraud in the UK. It includes offences of fraud by:

• False representation;
• Failing to disclose information;  
• Abuse of position; and
• A number of other offences relating to fraud.

CPD and training

Keep your knowledge up-to-date with ICAEW's risk management and fraud courses. Designed and delivered by experienced financial risk professionals, our courses address topics, such as fraud and corruption risk in businesses, cyber risk and other types of risk relevant to all levels of your organisation. All CPD courses are live virtual classrooms and can be delivered in-house.

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