Fraud Management: Awareness, Detection and Investigation Training Course

Why select this training course?

The design of this course includes a thorough investigation of fraud detection techniques and methodologies, fraud documentation, and evidence collection. You will have a detailed knowledge of fraudulent activities and methods of investigating fraudulent activities. This course will save your organization and business a lot of money lost through fraud.

Fraud is one of the fastest-growing activities in the financial industry. It costs businesses and organizations a lot of money in either legal proceedings or trying to prevent it or in terms of stolen money. Therefore, this course will develop you to be an experienced fraud detection and investigation professional and consequently save your business or organization money loss.

What is fraud management?

Fraud management is the detailed analysis of an organization, company, or institution’s activities that are disloyal, fraudulent, or in breach of financial relationship. They are often framed in the risk management rulebook or policies because fraud is a risk faced by any organization or company. There are various methods for fraud management, including anti-fraud systems, following legislation, or compliance adherence.

What is fraud management awareness?

These models are important to know when considering the likelihood of fraud occurring. It aims to explain the factors contributing to someone committing fraud and how to watch out for such signs. A fraud model triangle consists of three elements; together, they explain fraud management awareness and fraudulent behavior. They are motivation, opportunity, and rationalism.

The Fraud Management Awareness, Detection, and Investigation Training Course by Rcademy explain different types of fraud. It also highlights why any organization must understand fraud, red flags that suggest fraud, primary factors that motivate fraudsters, and correctly identify and report fraudulent activities. It is thoroughly designed to help professionals protect their businesses and organizations against the negative effects of fraud by detailing the main causes of motivation for fraud and raising awareness of the different types of fraud.

Who should attend?

The Fraud Management Awareness, Detection, and Investigation Training Course by Rcademy are ideal for:

• Managers that wish to increase their knowledge of fraud detection and investigation
• Auditors who need to understand various approaches to fraud detection and investigation
• Fraud specialists that need the knowledge to detect and investigate fraud
• Fraud member teams that need to learn to target internal fraud
• Fraud analyst
• Fraud risk manager
• Investigation specialist
• Fraud detection and investigation officer

What are the course objectives?

After undergoing this Fraud Management Awareness, Detection, and Investigation Training Course by Rcademy, the participants will be able to:

• Determine when someone is telling the truth concerning financial transactions
• Apply successful tools and methodologies to prevent fraud
• Develop plans to effectively investigate the fraudulent process
• Evaluate and challenge the existing managements fraud risks
• Apply data mining as a fraud detection and prevention tool
• Develop audit skills for fraud investigation
• Promote an effective fraud prevention process
• Understand how a fraudster thinks

How will this course be presented?

This course in fraud management awareness, detection, and investigation is designed and presented by Rcademy to prepare the participants for the market. It utilizes unique methodologies that are meant to solve real-world problems. The facilitators of this course are the industry’s best professionals with experience in both their fields and teaching. Some of the methods that will be used in teaching include assignments, exercises, group discussions, and case studies. Rcademy understands the practical nature of this course and has therefore designed this course to fully prepare the participants for real-world problems.

What are the topics covered in this course?

The modules covered in this course are all necessary to be a certified fraud manager.

Module 1: Introduction

• Who commits fraud?
• Trends and statistics in fraud detection and prevention
• Why is fraud detection important?
• Profile characteristics of a fraudulent person
• Why does fraud exist in any organization?
• Fraud history
• Fraud modern survey results
• Fraud Statistics

Module 2: Information Technology Fraud Risk

• Computer fraud prevention
• How to detect IT fraud
• How to effectively prevent Internet fraud
• Segregation of duties: practical solutions and the risks involved
• Computer fraud paper
• Adoption and enforcement of IT security standards
• E-commerce fraud

Module 3: Fraud Risks Evaluation

• Creating a reporting process
• Fraud risk management process
• Creating a fraud risk management program
• Supplier and outsourcing fraud
• Generic risks factor
• Job description fraud
• Supervision in organization
• Fraud detection techniques
• Specific risk evaluation
• Potential fraud risk events prevention methods

Module 4: Identity and Corruption Fraud

• Identity fraud examples
• The fastest-growing fraud risk
• Fraud red flags
• Bid rigging
• Corruption causes
• Procurement fraud risks
• Corruption indicators
• Issues with corruption

Module 5: Fraud Mitigation Process

• Examination of mitigation plans in place and the necessary controls
• How controls may not protect you
• Risk exposures
• Evaluating mitigation plans
• Identifying vulnerable situations
• Thinking like a fraudster
• Procurement and inventory fraud risks
• Tendering and bidding fraud mitigation
• Checklist for procurement fraud
• Common fraud indicators

Module 6: Fraud Prevention Best Practices

• Fraud response plan creation
• Consistent action when fraud is detected
• Anti-money laundering methods
• Electronic data protection
• Liabilities of auditors and managers
• Fraud detection and prevention ethics
• Fraus, risk, and prevention
• Computer-Assisted Audit Techniques
  – Fraud investigation tools
  – Benford’s Benford’s law
  – fraud in electronic

Module 7: Investigation of Fraud

• Who should be involved in the investigation?
• Forensic evidence and how to obtain it
• How to keep investigation low-profile
• What information is available and can be used during the investigation?
• How to effectively dismiss or suspend suspected employees
• What information can lawfully be obtained?
• Collating information and maintaining the chain of evidence
• Fraud investigation reporting
• Guidance to conducting a fraud investigation

Module 8: Interviews with Suspects and Witnesses

• Tips for fraud interviews
• Setting the scene: how to choose a good venue
• How to take control
• Planning the interview correctly
• How to identify deception in interviews
• How to determine if someone is lying
• Steps to fraud interviews
• Avoiding rights breaches during interviews
• Managing external coverage
• Rebuilding damaged relationships
• Regulating information
• Dealing with stakeholders and media
• Writing interview reports