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Develop a counter fraud investment case

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Fraud can cause serious harm to government programs, industries, businesses and everyday Australians.

Investment in countering fraud is crucial for entities to be able to find and resolve vulnerabilities in their policies, processes and systems that could be taken advantage of by opportunistic fraudsters.

Remember, you need to find fraud in order to fight it.

Counter fraud investment cases

An investment case is a funding request for your executives to improve counter fraud capability in your entity.

  • there is often limited evidence to support investment in counter fraud
  • the benefits achieved through investment in counter fraud can be hard to demonstrate
  • the costs and regulation associated with countering fraud can appear to outweigh the benefits.

How to make a counter fraud investment case

Start by considering our Counter Fraud Investment Cases Leading Practice Guide. It outlines key practical steps you should follow to develop your counter fraud investment case:

  • Step 1 - confront challenges and resistance: discover what to do when evidence is limited, benefits might be hard to explain and costs don’t seem worth it. Also explore some common misconceptions you may be faced with.
  • Step 2 - understand and define your context: outline the need for counter fraud investment, collect the evidence you can to support it, estimate the financial cost and potential savings, understand the non-financial impacts of fraud and anticipate questions from executives.
  • Step 3 - develop a strategy: determine your entities’ current counter fraud maturity and risk appetite, the next step in your counter fraud journey and the short-term and long-term investment goals.
  • Step 4 - tell your story: share all of the above in a clear, simple and compelling story.
  • Step 5 - Communicate your value: communicate the value of investment and demonstrate your impact and wider value.

Other resource

It can be challenging to develop convincing and compelling investment cases for vital counter fraud resources and activities. This guide, developed in partnership with Deloitte, provides Commonwealth officials with practical steps for developing counter fraud investment cases.

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