Fraud Prevention, Detection and Investigation

About the Course

Fraud is a trillions of dollars Business that takes its profits from anybody and everybody throughout the World, sometimes without us knowing about it or realising it is happening. 

Arguably the most prominent business challenge is maximising its profits to ensure that they stay afloat and sustain itself, whilst, Fraudsters eat away from the inside, slowly bringing the company to its knees. This training course is aimed at the delegates and their organisation the knowledge and the tools to help achieve this.

This Fraud Prevention, Detection, and Investigation training course will facilitate the delegates what Fraud is all about, taking through fascinating facts and case studies, explaining why people from all walks of life get involved, looking at The Triangle of Fraud and its three sides coming together to push people into committing this damaging Crime. Then learn what to look for, those little signs that the Fraud is or may be alive and well within your organisation. Finally, how to effectively investigate the signs and if you confirm your worst nightmare, be able to stop it and cut out the people involved.

Core Objectives

Upon successful completion of this course, the delegates will be able to:

• Evaluate and challenge fraud risks
• Understand how fraud is perpetrated and who does it
• Learn to apply techniques to help prevent fraud
• Know how to promote an effective fraud prevention process
• Understand Data Mining and its uses
• Learn to conduct an effective fraud investigation
• Understand how to apply audit skills to fraud investigation
• Learn to identify Red Flags

Training Approach

The delegates attending this training course will receive thorough training on the subjects utilising various proven adult learning teaching and facilitation techniques. The highly interactive and participative training course methodology includes exercises and role-plays to simulate audit scenarios and situations.

The Attendees

This training course aims at anyone with a professional interest in protecting their business or workplace from the effects of fraud by recognising its likelihood and then dealing with the symptoms.

Likewise, it will be valuable to the professionals but not limited to the following:

• Any Fraud Investigators
• Staff need an understanding of how to investigate all types of fraud
• Auditors who need to learn how they can help in fraud prevention and investigation
• Team Members who need to know more about identifying internal fraud
• Managers need a broader understanding of how fraud, its dangers and how to prevent it

Daily Discussion

DAY ONE: FRAUD RISKS

• Fraud Explained: Definitions
• Fraud Statistics
• Why is fraud such a serious issue?
• Association of Certified Fraud Examiners (ACFE) Fraud Survey Results
• The Cost of Fraud
• Who commits fraud?
• Profile of a Fraudster
• Trends and Statistics regarding Detected Fraud
• Why is fraud probably being perpetrated now in your organisation?

DAY TWO: DEVELOPING A FRAUD PREVENTION PROCESS

• How to evaluate Fraud Risk Mitigation?
• Why may controls not protect you?
• Putting Yourself in the Mind of the Fraudster
• Examination of Typical Controls in Place to Mitigate the Risks
• Risk Exposures
• Identifying the Vulnerable Areas
• Procurement Fraud
• Fraud Indicators

DAY THREE: THE LINK BETWEEN FRAUD PREVENTION AND DETECTION

• Use of Management Checklists
• The Need to be Able to Think like a Fraudster: To be able to prevent it
• Company Policy on Consequences of Committing Fraud
• Facilitation of Whistle Blowing
• Whistle Blowing Policy
• Pros and Cons of External Hotlines
• Use of Specialists to Aid Detection and Investigation
• Preparing and Implementing Fraud Contingency Plans
• How to ensure fraud investigation is always given top priority?
• Use of Successful Fraud Investigation as a Moral Deterrent
• Managing the External Coverage of Proven Fraud

DAY FOUR: FRAUD DETECTION AND LEGAL ISSUES

• The Need to Stay within the Law
• The Legal Implications
• When to bring the lawyers in?
• Legal Privilege: How to protect your work from disclosure?
• How to ensure that evidence is admissible?
• Bribery Act and the Implications
• Gifts and Hospitality Guidance
• Making sure the criminal does not profit: How to recover stolen assets?
• How to handle disciplinary proceedings?
• Employers and Employees Rights

DAY FIVE: FRAUD INVESTIGATION

• How to react when fraud is suspected?
• How to decide who needs to be told?
• Who should be involved? – What skills do you need?
• How to keep the investigation low-profile?
• Conducting Fraud Investigations Guidance
• What information can lawfully be obtained?
• 47 Tips for Fraud Interviews
• Planning the Interview: Do’s and Don’ts
• The 10 Steps
• The Use of Successful Fraud Investigation as a Moral Deterrent