Duration: 3 Days

Course Overview

The responsibility to take action after frauds have been detected rests on senior management. In some cases, control overrides are often done by senior management, thereby making a mockery of the fight against fraud. This training course would bring senior management into the reality of how to ensure that control mechanism protects the assets of their organizations and their subordinates are kept on tabs.

Learning Objective:

At the end of this course, you will be able to:

  • Identify major fraud schemes
  • Identify some common ways that fraud is detected within companies.
  • Develop a basic investigative policy and create a general plan for dealing with reports of suspected fraud.
  • Assemble a competent fraud investigation team to examine cases of suspected fraud.
  • Avail the management of options for discipline and legal action once a fraud investigation is concluded
  • Impart fraud detection and control skills on your subordinates and colleagues
  • Write a lucid an elucidatory fraud report

Course Outline:

Lesson 1- Definition, Elements and Various Types of Frauds

  1. Background to Fraud
  2. Elements of Fraud
  3. Occupational fraud
  4. Larceny
  5. Skimming
  6. Bank frauds
  7. Types of Cheque scams
  8. Stolen Checks
  9. Demand draft fraud
  10. Rogue traders
  11. Fraudulent loans
  12. Forged or fraudulent documents
  13. Bill discounting fraud
  14. Booster cheques
  15. Prime bank fraud
  16. Identity fraud
  17. Why do people commit identity theft?
  18. How Does Someone Steal an Identity?
  19. How is identity stolen
  20. Identity Theft Action – Step
  21. The Relationship Between Identity Theft And Violent Crime
  22. How to Prevent Yourself From Being A Victim Of Identity Theft
  23. Signs of Identity Theft
  24. The best way to protect yourself
  25. Lasting Impact of Fraud
  26. red flags for detection of check fraud
  27. how to prevent check fraud
  28. Foreign currency and exchange fraud
  29. Foreign Exchange Scam
  30. Currency and exchange fraud –warning signs

Lesson 2 – Red Flags and Justification for Eliminating Frauds

  1. Computer frauds
  2. Economic justification for eliminating Fraud
  3. Social justification for eliminating Fraud
  4. International justification for eliminating Fraud
  5. Moral justification for eliminating Fraud
  6. Mechanisms for dealing with Fraud
  7. The role of chief legal officer or general counsel
  8. General Counsel
  9. Anti-fraud program
  10. Hot line
  11. What is a Red Flag?
  12. The Importance of Red Flags for Fraud
  13. General Red Flags
  14. Opportunity Red Flags
  15. Fraud Perpetrator Profile
  16. Organizational Profile
  17. Employee Red Flags
  18. Management Red Flags
  19. Changes in Behaviour “Red Flags”
  20. Red Flags in Cash/Accounts Receivable
  21. Red Flags in Payroll
  22. Red Flags in Purchasing/Inventory
  23. Reporting Fraud

Lesson 3 – Fraud Prevention Strategy, Detection and Report Writing

  1. Strategic fraud prevention plan
  2. Developing a Fraud Prevention Strategy
  3. Identification & assessment of vulnerable areas
  4. Ownership of fraud risk
  5. Response plan
  6. Legal framework
  7. Anti-fraud culture
  8. Key pillars of fraud prevention
  9. Prevention
  10. Detection
  11. Developing a fraud prevention implementation plan
  12. Fraud Risk Management Committee
  13. Fraud Awareness
  14. How  do we ensure that employees remain alert and vigilant
  15. Management need to ask themselves:
  16. The fraud triangle
  17. Pressures
  18. Opportunities
  19. Rationalization
  20. Detection
  21. What we suffer from fraud
  22. Anti-fraud approach
  23. Check list for hr on recruitment
  24. Codes of Conduct OR Fraud Policy
  25. Red flag and High risk zone
  26. Data Mining
  27. Technology as a Tool
  28. Fraud Report Writing

Course Timeline:
The course will cover three lessons, and it begins with the definition and introduction of fraud. It opens up the various types of fraud and discusses the way they are perpetrated. The lesson further show-cases the prevention, detection and deterrence methods.
Lesson 2 is about the various types of red flags of frauds and the justifications for eliminating frauds. It also discusses the creation of fraud hotline as a means of harvesting fraud tips from various sources
Lesson 3 discusses about fraud triangle and various antifraud approaches, the fraud policy and code of conduct while navigating the preventive strategies, detection methods and finally, writing of the fraud report.
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