Fraud School: Module 1 - Detecting and Preventing Fraud
This 15-hour course spread over three days will provide you with practical skills and enable you to help your organisation recognise, remove and resolve fraud. The goal: Save costs now by building TRUE financial resilience and integrity in your organisation.
Whatever your role is today enhance your financial skills and become part of the new movement to spot fraud early and convert those hidden losses back into value and profits so as to enhance your organisation’s reputation and culture.
Who should attend?
Who Should Attend?
This course will be of most value to:
- Financial Controllers and Financial Directors
- Senior and Chief Accountants
- Internal and External Auditors
- Legal and Compliance Officers, Risk Managers and those responsible for Corporate Governance
Day One: Recognising and Resolving Fraud (introduction)
Module 1: Objectives of the program and introduction to Demystifying Fraud
- The landscape of fraud and what does that mean to me and my organisation
- Seven major types of fraud (and how to turn the “wheel of (mis)-Fortune” back in your favour
- Why does fraud happen, who does it, and how much does it cost?
- What Fraud Detective Skills do I already have?
Warm-up exercise (in pairs): Get in touch with your own “Fraud Detective DNA”. Are you primarily transactional, technocratic, intuitive, or holistic and what other special traits do you have?
Module 2: How to out-think the fraudsters
- The criminal mindset (and in particular why everyone, including us rationalizes our behaviour)
- Case examples to present and share
- Recipe: How to identify where your own organisation is exposed to fraud by “thinking like a thief”
Exercise (in pairs): Think Like a Thief and feedback session
- How to recognise the early warning signs of fraud in documents, transactions and behaviour
Case study consisting of 3 scenarios with supporting documents. Are you able to identify the red flags and what would you do next?
Assignment and Essential Study
Participants will receive relevant background reading, a short situational case assignment involving a whistle-blower, plus an important reflection question for Day 2
Day Two: Assess and Detect Fraud Now
Module 3: Recognise the Risk of Fraud in your organisation
- Recap from Day 1 and reflections (case study and key question)
- How is fraud recognised today and how should it be recognised?
- Cyber Crime – the latest trends and tips and its relationship to fraud
- A step-by-step recipe to developing the fraud risk profile of your own organisation
Exercise (in groups): Follow the recipe to predict and identify where your organisation is being defrauded followed by a group feedback session
Module 4: Detect Fraud by “Following the Money”
- Why following the money is arguably the single most effective way to discover fraud early before it spreads?
- The seven classic recipes to recognise fraud
- How to understand and interpret the key indicators
- Develop and customize your own fraud detective recipes to your own organisation’s fraud profile.
Exercise (in groups) – “Practice makes perfect”: Five rapid-fire and varied cases where you put your Fraud Detective skills into action. Followed by a feedback session
Assignments and Essential Study
Develop your own organisational fraud profile and have the opportunity to receive individual feedback from the instructors.
Relevant course reading will be provided.
Reflection question: How would you resolve the 5 cases you discovered?
Day Three: Resolve Fraud to Resilience
Module 5: Resolving Fraud Efficiently
- Recap from Day 2 and review of case examples
- Introduction to Fraud Investigations and Interviews (the easy wins and the pitfalls)
- How to present your results to management in a professional, compelling and positive way
- Implement effective, and humane strategies to resolve fraud and corruption with minimum disruption
Exercise (in pairs): Participants will be presented with a case study involving a “live situation” involving meeting a whistle blower, the accused and the management.
The mission is to navigate the minefield of fraud and ensure that the chosen outcome is the best possible one for the organisation. This exercise will involve real interviews, analysis of documents, and presentations to management.
Module 6: Building Resilience to Fraud
- How to identify and remedying the root causes
- Learning the lessons to avoid recurrence
- How to contribute to greater awareness of fraud in your own organisation
Short exercise (individual exercise with automated and personalized feedback): Initial assessment of your own organisation’s Fraud Maturity and Resilience
- What is TRUE resilience to fraud and how is it achieved
- The steps you need to take to build financial robustness and resilience to fraud in your organisation.
Final Exercise (individual with a presentation in plenum): Develop and hold a short presentation based on everything you have learnt outlining the steps you would take to ensure improved recognition, resolution and removal of fraud in your organisation.
Course fee: £3645 + VAT
Certification / Credits
Key course highlights include:
- Demystify fraud, corruption, bribery, and cybercrime and recognise where it is already impacting on you and your organisation.
- Put into practice tried and tested recipes which successfully pinpoint examples of fraud and waste.
- Learn to implement your own Pre-Crime approach which detects and removes fraud before it spreads.
- Resolve fraud in an efficient, smart and win-win manner
In this course you will enter a new learning experience. You will develop ready to use and hands-on skills which are fit for tomorrow’s financial world, participate in live assessments, immerse yourself in cases and simulations, conduct interviews with whistle-blowers and fraudsters, analyse dramatic situations and follow money flows. You will also learn from guest experts and participate in Q&A sessions, self-assessment and of course groupwork and feedback from your peers and the instructors.
Course materials will include tools, videos, case examples, sample data files, templates, extracts from books and publications and your initial assessments.
Why choose Euromoney Learning?
4.6/5 rating on course check for service
60,000 professionals trained across public courses
80+ countries where training is delivered
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At Euromoney Learning, we understand that learning doesn’t start and end when you leave the classroom. We know that the financial markets never stand still, and that technology has both simplified and added complexity at a break-neck pace. That’s why...