Filetype Excel XLSX | Posted on 07 Jul 2022 | 3 years ago
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179x Filetype XLSX File size 0.21 MB Source: www.counterfraud.gov.au
Sheet 1: Instructions
| Strategic Fraud Risk Profiling Tool - 2022 Release |
| Because some Commonwealth entities are responsible for multiple programs and business functions, conducting fraud risk assessments across these organisations can be complex, time consuming and difficult to prioritise. Strategic-level fraud risk profiling can assist an entity to identify those areas of the organisation that are at higher risk of fraud. This will enable fraud control officers to formulate a ‘heat-map’ for fraud risk across the entity and to schedule fraud risk assessments on a prioritised basis. |
| This approach can also be adopted for national response arrangements which typically consist of multiple programs delivered by a number of Commonwealth entities to provide funding initiatives to individuals, organisations and businesses. Because the size, complexity and time-critical nature of these national response arrangements make it difficult to conduct fraud risk assessments across all programs, strategic fraud risk profiling will ensure that fraud risk assessments are targeted at those programs that are at higher risk of compromise through fraud. |
| How to use this Strategic Fraud Risk Profiling Tool |
| The tool uses a high-level scoring approach to identify those business units or programs that may have inherently higher levels of fraud risk. The scoring system is based on a number of key factors or attributes: - maturity of counter fraud capability - business unit / program budget - sensitivity of information - operational complexity - third party payments - maturity of operating systems, processes and delivery platforms - extent to which delivery is dependent upon other business units or entities - potential to undermine government objectives and policies - potential for reputational damage to government - potential for harm to third parties (individuals or businesses) - known fraud vulnerabilities, and - instances of previous fraud against the business unit / program. The last column of the tool provides an overall risk profile rating based on the total scores for the different attributes. |
| Learn more about better practice fraud control |
| Strategic Fraud Risk Profile | |||||||||||||||||||||||||||||
| Business Unit / Program | Brief description of function | Potential or known fraud type(s) | Maturity of counter fraud capability | Counter fraud capability rating | Business unit / program budget | Budget rating | Sensitivity of Information | Information rating | Operational complexity | Complexity rating | Third party payments | TPP rating | Maturity of operating systems, processes and delivery platforms | System maturity rating | Extent to which delivery is dependent upon other business units or entities | Dependency rating | Potential to undermine government objectives and policies | Undermine potential rating | Potential for reputational damage to government | Reputational damage rating | Potential for harm to third parties (individuals or businesses) | Third party harm rating | Known fraud vulnerabilities | Vulnerabilities rating | Instances of fraud against the business unit / program | Fraud instances rating | Sum of risk rating factors | RISK PROFILE | |
| Building Incentives Program | The program provides grants-based funding to eligible SME building businesses | * Providing false or misleading information * Using falsified documents |
Medium | 3 | <$1m | 1 | Unofficial | 1 | Low | 1 | Medium | 3 | Low | 5 | Medium dependency | 3 | Low | 1 | High | 5 | Medium | 3 | Likely vulnerabilities | 3 | Several instances | 5 | 34 | HIGH | |
| Mining Industry Development Program | The program provides grants-based funding to eligible mining enterprises | * Providing false or misleading information * Using falsified documents * Accounting fraud |
Medium | 3 | $100m to $1b | 4 | Official: Sensitive | 3 | Medium | 3 | Medium | 3 | Medium | 3 | High dependency | 5 | High | 5 | High | 5 | Medium | 3 | Known vulnerabilities | 5 | Some instances | 3 | 45 | VERY HIGH | |
| Property Services Branch | Provides property management services to the Department. Includes managing property service providers and leasing. | * Accounting fraud * Unlawful procurement / use of property or equipment |
High | 1 | $5m to $100m | 3 | Protected | 4 | Medium | 3 | High | 5 | High | 1 | Medium dependency | 3 | Low | 1 | Low | 1 | Low | 1 | No known vulnerabilities | 1 | No known instances | 1 | 25 | MEDIUM | |
| Strategy and Governance Branch | Supports the Department with strategic planning, corporate governance and ministerial reporting. | * Misuse of Commonwealth Credit Cards * Wrongfully using Commonwealth information or IP |
Medium | 3 | <$1m | 1 | Secret | 5 | Low | 1 | None | 0 | High | 1 | Low dependency | 1 | Low | 1 | Low | 1 | Low | 1 | No known vulnerabilities | 1 | No known instances | 1 | 17 | LOW | |
| LOW | |||||||||||||||||||||||||||||
| MEDIUM | |||||||||||||||||||||||||||||
| HIGH | |||||||||||||||||||||||||||||
| VERY HIGH | |||||||||||||||||||||||||||||
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