We provide strategic advisory and consulting services to help organizations identify risks, strengthen compliance frameworks, and make informed decisions. Our experts deliver practical, evidence-based guidance in forensic investigation, risk management, and asset tracing to protect value, enhance resilience, and support sustainable business operations.
Actions Constituting Fraud
The scope of fraud within an organization might range from internal theft of cash in small amounts to a third-party billing scheme worth millions. We assist the management teams to assess the control environment within their organizations and identify specific areas and situations where fraud could occur.
We also assist to create awareness among the management to help them to clearly define all types of fraud that occur within the company. This enables employees understand what actions constitute fraud and provide management with the legal grounds to investigate and punish violators.
Fraud red flags and how to identify fraud
Fraud red flags refer to undesirable situations that consistently contribute to fraud, waste, and abuse of resources.
When an investigator is reviewing a company’s financial statements, certain undesirable characteristics may stand out as fraud red flags, contributors to fraud or circumstances that may indicate the presence of fraud.
The employees should be aware of the warning signs of fraud such as financial/transactional red flags and behavioral red flags.
Training staff on fraud prevention, detection and Investigation
Fraud detection activities seek to identify fraud occurrences as soon as possible after they begin to limit the damage done.
Fraud prevention activities focus on proactively identifying and assessing fraud risks and taking steps to address those risks. A fraud investigation is aimed at examining evidence to determine if a fraud occurred, how it happened, who was involved, and how much money was lost. We train employees on fraud detection and prevention.
How to report fraud
They say more fraud is uncovered by tips than by any other means, making employees the best fraud detection control.
Employees must be well informed on how to report any suspicious activity, as well as empowered to make such reports without risk of retribution. Riskhouse trains your employees on how to report fraud.
How to handle factors leading to fraud; Pressure, Opportunity and Rationalization
We train your employees in handling factors that lead to fraud that is pressure, opportunity and rationalization such as increasing the perception of detection, proactive audit procedures, fraud assessment questioning, surprise audits where possible, employee antifraud education, handling of known fraud incidents’, minimizing employee pressures, open-door policies and writing the anti-fraud policy.
Corruption & Economic crimes awareness training
An organization that understands the specific factors involved in corruption schemes can take steps to prevent, detect and investigate them. A culture of corruption can exist even in companies with seemingly sound policies in place. We assist in drafting and training employees on anti-corruption policies.
We offer the following services to our clients:
Vulnerability Assessment – We evaluate if your system is susceptible to any known vulnerabilities, assign severity levels to those vulnerabilities, and recommend remediation or mitigation, if and whenever needed.
Penetration Testing – We assist in conducting Ethical hacking into the system. This entails the intentional launching of simulated cyberattacks that seek out exploitable vulnerabilities in your computer systems, networks, websites, and applications. Through the process, we seek to provide you with the deep solution to fix the vulnerabilities identified within your system.
Business Continuity Planning – Most organizations cannot oversee or predict some of the security challenges awaiting. We provide a detailed plan and strategy on how business operations can be maintained for both short-term and long-term outages.
Disaster Management planning (DRP) – Disaster is unplanned incident which organizations cannot control. We are here to assist organization resolve data loss and recover system functionality to enable it to perform in the aftermath of an incident.
IT roadmap Assessment – We develop and implement a strategic guide that can help your organization to understand system security challenges and manage cyber risks.
Among other system audits, we conduct the following:
IT governance Review – We ensure the IT processes are effective and efficient to enable an organization to achieve its goals. We review maturity of IT governance in relation to top management involvement in making the ICT decisions.
System application review – Through our detailed system application-level review, we assist to identify the key controls that are critical for the functioning of the system at application level and provide recommendations that will enhance system security and ensure seamless business continuity.
Database Administration Review – We seek to help towards establishing whether adequate controls are in place. Among others, this controls include (i) User access controls (ii) Administrative access controls (iii) Audit logging (iv) Authentications and verification (v) Maintenance and monitoring (vi) Back up and (vii) Data restoration Test. Our review focuses on identifying key areas of weaknesses and providing recommendations to enhance controls.
System Post-Implementation Review – We provide a systematic and designed approach to evaluate whether the system implementation objectives were met. We also determine how effectively and comprehensively the system implementation was conducted.
System security maturity assessment and Management – We Test the system security model and check whether different system development stages are met. The following are the models;(i) Scanning the system (ii) Managed Assessment and Compliance (iii) Formalized Analysis and Prioritization (iv) Attack Focused Management (v) Optimization.
IT General Controls Review – Our team of experts will assist you in reviewing general IT controls which includes (i) Application security (ii) Privilege access (iii) User identification and verification (iv) System users’ rights, role matrix and maker checker (v) Audit trails, program, and configuration changes of the system (vi) Restrictions and controls regarding access to the server room.