FCG 4.3 Further guidance
1FCTR contains the following additional material on fraud:
• FCTR 10 summarises the findings of the Small Firms Financial Crime Review. It contains guidance directed at small firms on:
◦ Monitoring activity (FCTR 10.3.3G)
◦ Responsibilities and risk assessments (FCTR 10.3.7G)
◦ General fraud (FCTR 10.3.13G)
◦ Insurance fraud (FCTR 10.3.14G)
◦ Investment fraud (FCTR 10.3.15G)
◦ Mortgage fraud (FCTR 10.3.16G)
◦ Staff/Internal fraud (FCTR 10.3.17G)
• FCTR 11 summarises the findings of the FSA’s thematic review Mortgage fraud against lenders. It contains guidance on:
◦ Governance, culture and information sharing (FCTR 11.3.1G)
◦ Applications processing and underwriting (FCTR 11.3.2G)
◦ Mortgage fraud prevention, investigations, and recoveries (FCTR 11.3.3G)
◦ Managing relationships with conveyancers, brokers and valuers (FCTR 11.3.4G)
◦ Compliance and internal audit (FCTR 11.3.5G)
◦ Staff recruitment and vetting (FCTR 11.3.6G)
◦ Remuneration structures (FCTR 11.3.7G)
◦ Staff training and awareness (FCTR 11.3.8G)
• 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:
◦ Governance (FCTR 14.3.2G)
◦ Risk assessment (FCTR 14.3.3G)
◦ Detecting perpetrators (FCTR 14.3.4G)
◦ Automated monitoring (FCTR 14.3.5G)
◦ Protecting victims (FCTR 14.3.6G)
◦ Management reporting and escalation of suspicions (FCTR 14.3.7G)
◦ Staff awareness (FCTR 14.3.8G)
◦ Use of industry intelligence (FCTR 14.3.9G)