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Fraud Risk Management And Prevention

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Strong controls prevent loss and build trust

Venovox helps you find weak spots, design simple controls, and monitor them in a steady way. We focus on the risks that matter most to your business. Our approach is practical and kind. We teach people what good looks like and we give leaders clear insight so they can act early.

Assess

Find weak spots and set priorities

Build

Design simple, strong controls

Monitor

Check steadily and act early

What this page covers

This page explains how Venovox prevents fraud through risk assessment, control design, data analytics, and training. It shows when to act, which areas are most exposed, and how we build a simple program that your teams can run. You will see what you receive, the outcomes you can expect, and the related services that complete the picture.

Why prevention matters

Fraud is easier to stop than to fix. A small set of clear controls can block many schemes. Prevention also supports culture. When staff see fair rules and fair checks, they feel safe and respected. Prevention saves money, protects reputation, and reduces the chance you will need a long investigation later. It also helps you meet the expectations of your board, auditors, and regulators.

When to act

Start your prevention program when these signals appear.

  • Rapid growth or entry into new markets

  • New systems, mergers, or outsourcing

  • Repeated near misses or small losses that hint at bigger gaps

  • New partners or a faster vendor onboarding process

  • Audit findings on approvals, segregation of duties, or data quality

  • A recent incident that revealed control issues

If you are unsure where to start, we can begin with a short review and a simple heat map of your highest risks.

Common fraud risks we address

Procurement and payables

False vendors, duplicate invoices, kickbacks, fake approvals, and split purchases. We check master data, approvals, three way match, and payment rules.

Sales and receivables

Fictitious sales, unusual credits, channel stuffing, and write offs. We test price lists, discounts, returns, and credit notes.

Travel and expenses

Personal spend, duplicate claims, altered receipts, and mileage abuse. We set rules that are simple to follow and easy to check.

Payroll and HR

Ghost employees, false hours, and misuse of allowances. We align HR and payroll data and test for unusual patterns.

Inventory and assets

Shrinkage, theft, and misuse of company assets. We design cycle counts, access rules, and handover checks.

Third party risk

Agents, distributors, and consultants that create bribery or sanctions exposure. We add due diligence, contract clauses, and monitoring.

IT and access

Shared accounts, weak privilege controls, and risky downloads. We link identity, approvals, and offboarding steps.

Our approach to fraud risk management

Venovox uses a clear and steady method that builds lasting control without heavy burden on your teams.

Assess

We run a fraud risk assessment. We meet with process owners and review policies and data. We identify where value could leak and where controls are missing or weak. We score risks by impact and likelihood and we propose a small set of priorities.

Design

We choose controls that fit your size and systems. We keep steps simple so people can follow them on a busy day. We set clear roles, thresholds, and approvals. We add checks that can be measured and we write short job aids.

Build

We help you put controls in place. This can include updates to forms and workflows, changes to master data, and automated rules in your systems. We align with IT change processes and we document each change.

Monitor

We set up ongoing checks. Some are manual spot checks. Others use data analytics to find patterns that merit a closer look. We design a short monthly report that shows what was tested and what was found.

Train

We train teams and managers. We explain why controls matter and how to use them. We give examples of real life issues and the right response. We teach people how to raise concerns early and with care.

Review

We check what works and what could be better. We adjust rules that cause friction and we strengthen weak spots. We plan a yearly refresh so your program stays current as the business changes.

Data analytics and continuous monitoring

Data makes prevention stronger. Venovox sets up simple tests that run on a schedule. We avoid heavy tools unless you already have them. We focus on clear signals and fast follow up.

  • Duplicate invoice and vendor checks

  • Round number and weekend payment tests

  • Split purchase and threshold checks

  • Travel and expense anomaly checks

  • Ghost employee and payroll mismatch checks

  • Master data changes without approval

  • Access rights that do not match job roles

We agree on who reviews alerts, how to clear them, and how to record actions. This keeps effort focused and results easy to show.

Governance and reporting

Fraud prevention works best when people know what to do and who owns each step. We set a simple governance model with clear lines.

A senior sponsor who removes roadblocks

Process owners for each control set

A small risk forum that meets monthly

A quarterly report to leaders and the board

We include measures that show progress, such as time to close alerts, number of controls tested, and trend lines for issues.

What you receive from Venovox

  • A fraud risk assessment with a heat map and top risks

  • A control matrix with owners, frequency, and evidence

  • Data tests and a light dashboard for monthly review

  • Updated policies, job aids, and training materials

  • A remediation plan with quick wins and longer actions

  • A board and executive pack that explains progress in plain language

Outcomes you can expect

Fewer losses and faster detection of issues

Clear roles and controls that staff can follow

Better records that stand up to audit and legal review

Higher trust and a stronger speak up culture

A program that grows with your business without heavy cost

Why Venovox

Independent and practical

We report facts as we find them and we design steps that work in the real world. We remove jargon and focus on results.

Cross border experience

We help global teams align on simple standards while respecting local rules. We support multi language training and reporting.

Multidisciplinary team

Investigators, control specialists, data analysts, and trainers work as one team. You do not need to coordinate several vendors.

Clear communication

You get one point of contact, short updates, and tools your teams can use without extra help.

Related services

Explore our full set of services that connect with fraud risk management and prevention. Use the links below to learn more or to request a short scoping call.

Regulatory and Compliance Investigations

Corporate Intelligence and OSINT

Digital Forensics and Incident Investigations

Workplace Misconduct Investigations

Corporate Investigations Hub

Frequently asked questions

Ready to get started?

If you want to reduce fraud risk and build simple, strong controls, talk to Venovox. Share your goals and your timeline. We will suggest a short plan that starts with the areas of highest impact and lowest effort. We can begin with a focused assessment and a pilot for one process, then scale across the business once you see results.