# Run a fraud risk assessment for a business process

Brainstorms realistic fraud schemes for a process, assesses them against existing controls, and recommends prevention and detection fixes.

- Topic: Legal & Compliance
- Framework: Few-Shot
- Level: Standard
- Tags: Legal, Analyze, Fill-in Template
- Source: https://www.thinkwithprompt.com/prompts/run-a-fraud-risk-assessment-for-a-business-process

## Prompt

```text
Help me run a fraud risk assessment for a business process.

**Process:** [e.g. procurement, payroll, expenses, revenue recognition, inventory, customer refunds]
**How it works:** [KEY steps, roles, systems, approval limits]
**Existing controls:** [LIST]
**Pressures and incentives:** [e.g. aggressive targets, bonus structures, cost cuts, staff turnover]
**Past incidents or allegations:** [SUMMARY or "none known"]

Work through:
1. **Fraud schemes** - 8-12 realistic schemes for this process across asset misappropriation, corruption, and financial reporting fraud. For each: who could commit it (role), how, and how they would conceal it. Include collusion and management override scenarios.
2. **Fraud triangle** - for the main schemes, the likely pressure, opportunity, and rationalization.
3. **Assessment table** - columns: Scheme, Perpetrator role, Likelihood, Impact, Existing controls, Would controls prevent or detect it?, Residual risk.
4. **Control gaps** - especially segregation of duties, master data changes, manual overrides, and controls performed by the same person they are meant to check.
5. **Recommendations** - preventive and detective controls, including data analytics tests to run on the full population.
6. **Red flags** for managers and staff in this process.

Keep it practical, and do not accuse anyone: this assesses where fraud could happen, not who did it. If I describe a suspected live fraud, tell me to preserve evidence and involve legal before investigating.
```

## What to fill in

- KEY steps, roles, systems, approval limits
- LIST
- SUMMARY or "none known"

Free to copy and use. From ThinkWithPrompt (https://www.thinkwithprompt.com/), a library of 2,663 curated AI prompts.