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

31. Computer frauds
32. Economic justification for eliminating Fraud
33. Social justification for eliminating Fraud
34. International justification for eliminating Fraud
35. Moral justification for eliminating Fraud
36. Mechanisms for dealing with Fraud
37. The role of chief legal officer or general counsel
38. General Counsel
39. Anti-fraud program
40. Hot line
41. What is a Red Flag?
42. The Importance of Red Flags for Fraud
43. General Red Flags
44. Opportunity Red Flags
45. Fraud Perpetrator Profile
46. Organizational Profile
47. Employee Red Flags
48. Management Red Flags
49. Changes in Behaviour “Red Flags”
50. Red Flags in Cash/Accounts Receivable
51. Red Flags in Payroll
52. Red Flags in Purchasing/Inventory
53. Reporting Fraud

Lesson 3 – Fraud Prevention Strategy, Detection and Report Writing

54. Strategic fraud prevention plan
55. Developing a Fraud Prevention Strategy
56. Identification & assessment of vulnerable areas
57. Ownership of fraud risk
58. Response plan
59. Legal framework
60. Anti-fraud culture
61. Key pillars of fraud prevention
62. Prevention
63. Detection
64. Developing a fraud prevention implementation plan
65. Fraud Risk Management Committee
66. Fraud Awareness
67. How  do we ensure that employees remain alert and vigilant
68. Management need to ask themselves:
69. The fraud triangle
70. Pressures
71. Opportunities
72. Rationalization
73. Detection
74. What we suffer from fraud
75. Anti-fraud approach
76. Check list for hr on recruitment
77. Codes of Conduct OR Fraud Policy
78. Red flag and High risk zone
79. Data Mining
80. Technology as a Tool
81. Fraud Report Writing