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Fraud Prevention Services

With the new ‘Failure to Prevent Fraud’ offence there is no time better than to look at your firm’s fraud prevention management.

The new offence, introduced under the Economic Crime and Corporate Transparency Act 2023, applies to law firms (and other organisations) where an associated person, which could be an employee, agent, or even a contractor, commits a fraud offence intending to benefit the firm or its clients. If your firm can’t demonstrate it had reasonable prevention procedures in place, you could be criminally liable, even if senior leadership wasn’t aware of the fraud.

Let that sink in: you don’t need to know about the fraud to be held responsible.

Why this matters for lawyers, COFAs and COLPs

Legal professionals are often seen as gatekeepers of the financial system, and rightly so. But that comes with serious responsibilities. Fraud doesn’t just damage your client relationships and reputation; it opens the door to regulatory fines, criminal charges, and loss of trust in your firm’s competence.

Compliance officers (COLPs and COFAs), in particular, should be asking:

Do we understand what reasonable fraud prevention procedures actually look like?
Could everyone in our firm spot red flags of fraud?
Have we documented what to do if fraud is suspected or detected?

What can you do now?

This is where proactive compliance beats reactive panic. At Teal Compliance, we’ve launched a dedicated Fraud Prevention and Management Service, led by our fraud expert Mark Heffer. We don’t just hand over a template and wish you luck, we train your teams, help you map risk areas, and guide you through building robust fraud response frameworks.

Our service covers:

Interactive, role-specific training for all staff
Review of your current fraud policies and risk exposure
Creation of tailored fraud prevention procedures
Practical advice on reporting, escalation, and investigation protocols

This isn’t box-ticking. It’s about giving your people the tools and confidence to act when it counts.

How we can help

Fraud Protection Training

The new offence may feel daunting, but it also offers an opportunity: to strengthen your culture, build internal trust, and demonstrate to regulators and clients that you take fraud seriously.

Mark Heffer is our Fraud Expert and is overseeing our training to support you and your colleagues. Mark was a detective in the police for 25 years specialising in money laundering and confiscation / asset recovery, so knows what he’s talking about!

At Teal Compliance, we’re here to help you move from uncertainty to assurance.

Fraud Programme & Audits

When faced with allegations of wrongdoing, a swift, thorough, and compliant internal investigation is paramount. At Teal Compliance, we provide legal firms with the expertise to navigate these complex situations effectively. Our approach focuses on best practice, guiding you through every critical stage, from setting clear terms of reference to meticulously gathering and preserving evidence, including crucial digital data. We train your teams on the nuances of conducting effective interviews, leveraging Open Source Intelligence (OSINT) where appropriate, and managing liaison with Law Enforcement.

Our training goes beyond theory. We believe in immersive learning, which is why our bespoke courses, led by our fraud expert Mark Heffer, are a blend of practitioner-focused presentations and interactive exercises. Delegates will hone their critical thinking and decision-making skills in simulated, analytical environments, tackling a Fraud Investigation Scenario specifically tailored for the legal sector. This blended learning approach ensures your team gains not just theoretical understanding, but practical, tactical, and strategic proficiency to confidently manage internal investigations when it truly counts.

Fraud Policy Review

Details of our Fraud Policy Review service are coming soon.

Get in touch about our Fraud Prevention Services

To speak to one of our experts about our fraud prevention services, contact us today.

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"We have been using Teal to support our compliance frameworks, and every aspect of our experience with them has been fantastic. From the training to the audits, and especially the ‘Ask Teal’ helpline, nothing is too much trouble, and you get quick support from some of the industry’s best compliance experts."

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"We rely on Teal Compliance to provide responsive, practical compliance services to Constantine Law. They know what they are doing and they provide peace of mind regarding day-to-day compliance matters as well as responses to unforeseen (tricky) compliance matters. They have become an indispensable partner to Constantine Law in our growth journey."

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Testimonial from Streathers Solicitors

"We have worked with Teal for several years. They have provided us with AML training and also helped us put together our firm-wide AML risk assessment and our updated AML policy, along with assisting us with various issues as and when they arose. We have always found them to be very helpful, friendly, responsive and knowledgeable, and are happy to recommend them."

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Testimonial from Streathers Solicitors

"We have had a relationship with Teal for a number of years and they have provided a valuable resource to our compliance team. Teal combine the delivery of a personal and friendly service with city level expertise."

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