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
- Background to Fraud
- Elements of Fraud
- Occupational fraud
- Larceny
- Skimming
- Bank frauds
- Types of Cheque scams
- Stolen Checks
- Demand draft fraud
- Rogue traders
- Fraudulent loans
- Forged or fraudulent documents
- Bill discounting fraud
- Booster cheques
- Prime bank fraud
- Identity fraud
- Why do people commit identity theft?
- How Does Someone Steal an Identity?
- How is identity stolen
- Identity Theft Action – Step
- The Relationship Between Identity Theft And Violent Crime
- How to Prevent Yourself From Being A Victim Of Identity Theft
- Signs of Identity Theft
- The best way to protect yourself
- Lasting Impact of Fraud
- red flags for detection of check fraud
- how to prevent check fraud
- Foreign currency and exchange fraud
- Foreign Exchange Scam
- Currency and exchange fraud –warning signs
Lesson 2 – Red Flags and Justification for Eliminating Frauds
- Computer frauds
- Economic justification for eliminating Fraud
- Social justification for eliminating Fraud
- International justification for eliminating Fraud
- Moral justification for eliminating Fraud
- Mechanisms for dealing with Fraud
- The role of chief legal officer or general counsel
- General Counsel
- Anti-fraud program
- Hot line
- What is a Red Flag?
- The Importance of Red Flags for Fraud
- General Red Flags
- Opportunity Red Flags
- Fraud Perpetrator Profile
- Organizational Profile
- Employee Red Flags
- Management Red Flags
- Changes in Behaviour “Red Flags”
- Red Flags in Cash/Accounts Receivable
- Red Flags in Payroll
- Red Flags in Purchasing/Inventory
- Reporting Fraud
Lesson 3 – Fraud Prevention Strategy, Detection and Report Writing
- Strategic fraud prevention plan
- Developing a Fraud Prevention Strategy
- Identification & assessment of vulnerable areas
- Ownership of fraud risk
- Response plan
- Legal framework
- Anti-fraud culture
- Key pillars of fraud prevention
- Prevention
- Detection
- Developing a fraud prevention implementation plan
- Fraud Risk Management Committee
- Fraud Awareness
- How do we ensure that employees remain alert and vigilant
- Management need to ask themselves:
- The fraud triangle
- Pressures
- Opportunities
- Rationalization
- Detection
- What we suffer from fraud
- Anti-fraud approach
- Check list for hr on recruitment
- Codes of Conduct OR Fraud Policy
- Red flag and High risk zone
- Data Mining
- Technology as a Tool
- Fraud Report Writing