Manage the risk of fraud with Speeki

There are two types of companies in the world: those that have been impacted by fraud and those that don't know they have.

Fraud can significantly impact a company’s financial position and often has flow-on financial consequences for global and local economies. It can also lead to serious legal consequences as well as enduring psychological and emotional harm for the individuals involved.

Prevent fraud by using the ISO 37003 standard and getting certified by Speeki Europe.

Benefits of ISO 37003 certification

We believe ISO 37003 is the best way to prevent and manage the risk of fraud for several reasons.

Understand where fraud risks exist

Following the guidelines and gaining certification will drive the company to create and maintain processes for fraud risk identification, assessment and monitoring. Knowing where your risks are is the first step in managing them.

Mitigating and detecting risks

Focusing on mitigating any internal and external fraud means preventing potential losses before they occur.

Reduce costs and losses through fraud controls

An effective response to fraud means damage to the company's image can be minimised, the company’s reputation can be restored and improved, and funds lost due to fraud can be recovered.

Build better governance systems

Managing fraud is part of governance. Stand out as an attractive investment target backed by a robust fraud control system that protects the company and its shareholders.

ISO 37003: Building a resilient fraud control framework with Speeki Europe

Strengthen your organisation's fraud control initiatives with ISO 37003 certification from Speeki Europe. Our comprehensive services help you build a resilient framework, prevent fraud, and efficiently and effectively manage issues when they occur.

Benefits of partnering with Speeki Europe for ISO 37003 certification

At Speeki Europe, we are dedicated to assisting organisations in elevating governance by providing certifications for key governance topics. Our comprehensive knowledge of the topics and unyielding commitment to the auditing process empower your business to not only prevent fraud but manage it when it happens.

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Value-driven certification solutions

Speeki Europe excels in guiding organisations to master their fraud control management system using ISO 37003. While we are a certification and audit body, our unique approach provides additional guidance on improvement, observations and best practices.

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Global expertise in managing fraud

Speeki Europe's global reach and expertise in identifying and managing fraud make us the ideal partner for your certification. We can help in (almost) any country, in any language and in any industry. Our team is globally ready for any project.

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All our auditors are experts in fraud controls

Our secret weapon is our audit team. They are practical fraud experts and excellent communicators. They add significant value for clients on their certification journey. They are our main value proposition to clients selecting Speeki as their certification partner.

Meet an ISO 37003 expert

Scott Lane

Scott Lane is the lead auditor at Speeki and a 20+ year lawyer focused on governance, risk, legal and corporate compliance. Scott worked in-house across multiple companies and countries before moving to an advisory role advising companies on these issues for the past 18 years.

Certify your fraud controls with ISO 37003

Many global companies working internationally are acutely aware of their risk of fraud. A fraud control management system is more than just a policy. ISO's new fraud control management system guidelines, released in 2024, are the ideal framework to help manage fraud.

Secure ISO 37003 certification through a four-step process with Speeki

Take the definitive step towards managing fraud with ISO 37003 certification through Speeki Europe. Our ANAB and COFRAC* accredited certification body is your ally in certifying a robust fraud control management system that’s in harmony with ISO 37003 guidelines.
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Choose an ISO 37003 certification body

Selecting an experienced and accredited certification body is crucial. Speeki Europe, an ANAB and COFRAC* accredited certification body, boasts unrivalled expertise in ISO 37003 fraud control. Our experts have decades of experience building fraud control programmes and are leaders in the domain. Few certification bodies can match our experience.

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Grasp the ISO 37003 requirements

The simplicity of ISO 37003 belies the importance of comprehending its requirements. Speeki Europe, while maintaining an impartial stance, is poised to offer training and practice audits to ensure you are well acquainted with the ISO 37003 guidelines. We have in-depth knowledge of the guidelines and are well-versed in managing audits.

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Implement your fraud control management system

With insights into ISO 37003, it’s time for you to implement an FCMS that aligns with the guidelines. An FCMS incorporates policies, procedures and controls designed to prevent, detect and counteract the risk of fraud. If your organisation already possesses a fraud control programme, augmenting it to meet ISO 37003 should be a smooth transition.

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Validate your ISO 37003 compliance

With an FCMS in place, you're ready to pursue ISO 37003 certification. Speeki Europe will conduct an audit to validate your organisation's compliance with the guidelines. Certification is valid for three years and involves an extensive audit in the first year and follow-up audits in subsequent years to address any changes.

Get your ISO 37003 certification

If you are successful in the audit, you will be issued a certificate of conformity to ISO 37003. This certificate will demonstrate to stakeholders that your organisation is committed to preventing and mitigating fraud risks. It is the ultimate way to prove the value of your efforts and be rewarded for all your hard work in building a fraud control programme.

Business advantages of getting ISO 37003 certified

ISO 37003 certification brings numerous benefits. It establishes a fraud control management system, mitigates risks, and reduces financial exposure. Achieving certification from a recognised certification body, such as Speeki Europe with ANAB and COFRAC* accreditation for ISO 37001, boosts your ability to manage fraud risks. Gain a competitive edge, enhance transparency, and build stakeholder trust through ISO 37003 certification.

ISO 37003 FAQs

Here are some frequently asked questions about ISO 37003 certification. Feel free to send us your questions if you cannot find answers here.
What is ISO 37003 certification?

ISO 37003 certification signifies that an organisation has implemented a fraud control management system that meets international guidelines. It demonstrates a commitment to preventing and managing fraud.

What does ISO 37003 encompass?

ISO 37003 outlines requirements for establishing, implementing and maintaining an FCMS designed to help organisations prevent, detect and address fraud in companies.

How much does ISO 37003 certification cost?

The cost of ISO 37003 certification varies depending on factors such as the size of the organisation, the complexity of operations and the certification body. We can get you a quote so you can start budgeting.

What can ISO 37003 application prevent?

ISO 37003 is applied to prevent fraud in an organisation. It helps establish policies, procedures and controls for identifying and mitigating fraud internally and externally.

What are ‘fraud controls’?

Fraud is an intentionally dishonest act causing actual or potential gain or loss that creates social or economic harm. The organisation should proactively implement fraud controls to prevent internal and external fraud.

What is the point of fraud controls?

An FCMS seeks to control internal fraud against the organisation, external fraud against the organisation, internal fraud in collaboration with business associates or other third parties, external fraud in collaboration with the organisation’s personnel, and fraud by the organisation or by persons purporting to act on behalf of and in the interests of the organisation.

What are the different types of fraud?

While there are several diverse types of fraud, most frauds for companies fall into two broad categories: internal fraud and external fraud.

What is FCMS in ISO 37003?

An FCMS is a fraud control management system. It comprises policies, procedures and controls designed to help organisations prevent, detect and address fraud.

Is ISO 37003 mandatory?

ISO 37003 is not mandatory but is highly recommended for organisations seeking to establish a robust fraud control framework. It's a globally recognised set of guidelines that work to manage fraud risks and the impact of fraud.

What is the fraud control policy?

The fraud control policy is appropriate to the purpose of the organisation, provides a framework for setting fraud control objectives, includes a commitment to meet applicable recommendations, includes a commitment to continual improvement of the FCMS, and explains the consequences of non-compliance.

How does ISO 37003 benefit organisations?

ISO 37003 helps reduce fraud. In today's society it is almost guaranteed that a company will be impacted by fraud at some stage. Many companies are simply not even aware of the fraud happening. An FCMS will help identify and manage fraud risks.

Can small businesses benefit from ISO 37003?

Absolutely! ISO 37003 is suitable for organisations of any size. Small businesses can equally benefit from enhanced reputation, compliance and stakeholder trust by adopting these fraud control guidelines.

Is ISO 37003 recognised globally?

Yes, ISO 37003 is a global standard for fraud control management systems that is recognised and respected worldwide. It helps organisations align with international best practices in managing fraud.

How do I select a certification body for ISO 37003?

Choose an accredited certification body with experience in ISO 37003. Evaluate their credentials, expertise and client testimonials. Speeki Europe is a reputable certification body with vast experience.

How is ISO 37003 certification maintained?

ISO 37003 certification is maintained through continual improvement, regular internal audits and periodic surveillance audits by the certification body to ensure ongoing compliance with the guidelines.

How long does it take to become ISO 37003 certified?

The timeframe for ISO 37003 certification varies depending on the size and complexity of the organisation, but it typically takes several weeks from the initial steps to the final certification.

What are the legal implications of not having a fraud control management system?

Without a fraud control management system, organisations are more vulnerable to fraud and may face legal consequences, including lawsuits from shareholders and reputational damage.

Who needs to be involved in the implementation of ISO 37003?

Implementing ISO 37003 involves top management, compliance officers, legal, HR, finance, procurement, information security, physical security and all employees to ensure a comprehensive approach to fraud controls.

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Start your ISO 37003 journey with Speeki Europe

Partner with Speeki Europe, an ANAB and COFRAC* accredited certification body, and let our expertise streamline your path to ISO 37003 certification. Establish a formidable fraud control management system and unlock the myriad benefits that ISO 37003 certification brings.

* COFRAC: Comité Français d’Accréditation is the French Accreditation Body (Accreditation N°4-0609. List of locations and scope available at www.cofrac.fr).
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