Fraud Prevention
28-29 November 2010 Dubai
One of the major by-products revealed during the financial crisis is fraud and recent cases of Satyam and Bernard Madoff are only some of the examples showing the scale of the problem.
Fraud presents big challenge for banks and financial institutions requiring them to radically modify behavior and increase vigilance in many activities.
This timely course is essential for all financial institutions and especially risk, audit and compliance officers who are on the frontline of fraud mitigation. Delegates will have a chance to explore the latest fraud prevention techniques and analyse the implementation of efficient operational systems and policies.
On completion of this course you will:
- Understand different types of fraud and gain tools to identify them
- Learn about the techniques used in the high tech crime
- Explore cheque fraud
- Know the fundamentals of setting up internal control systems
- Examine the role and function of CAATS - Computer-Assisted Auditing Techniques
- Explore the role of a compliance officer in fraud prevention
Main Topics Covered During This Training
- Identifying fraud
- Fraud in financial and banking services
- High-tech crime
- Fraud prevention and internal controls
- Using computer assisting auditing techniques - CAAT
- Fraud prevention - the role of compliance officer
- Case studies: Bernard Madoff, Fraud schemes in Nigeria, Satyam
Who Should Attend
From Commercial Banks, Central Banks, Investment Banks, Asset Management firms’ representatives, Leasing companies, Insurance companies, Fund Managers, Other financial institutions:
- AML & Fraud Prevention Officers
- Compliance
- Payments
- Financial Officers
- Risk Officers
- Internal Auditors
- Operational Risk Managers
- Staff with roles and responsibilities in fraud prevention and in risk management departments, businesses and central departments
Teaching Method
This is a highly practical course with many real life case studies and exercises. Tutor will be focused on teaching practical strategies that can be taken back to your business and put into immediate effect.
In order to help us establish your individual and business concerns, you will be asked to fill pre-course questionnaire.
Due to the practical nature of the course the number of places is limited and will be filled on first come, first accepted basis. We advise to book in advance in order to avoid disappointment.
Fraud Prevention - A 2 Day Programme
What is Fraud?
- Fraud – an overview
- What is it?
- Why is it committed?
- A Basic definition of fraud
-
The Fraud Triangle
- Common fraud types
- How fraudsters think
- Impact of fraud
- Criteria for fraud to succeed
Fraud – Nuts & Bolts
- Categories of occupational fraud and abuse
- Asset misappropriation
- Fraudulent statements
- Corruption
- Fraud red flags
- Fraud prevention programs
- Code of business ethics
- Fraud policy
- Compliance programs
- Fraud prevention check up
Fraud in Financial & Banking Services
- Mapping fraud – interactive exercise
- Fraud – An ever present threat
- Evolution of fraud
- Demonstrating to management ROI for FDA
High Tech Crime
- Changing fraud focus
- Key issues
- Skimming
- Counterfeit cards
- Web attack- data hacking
- BIN attack
- Organised crime gangs
- Brand damage and loss of consumer confidence.
- Controls mitigation
- Issuing Controls- CPP detection
- Merchant education (signature checking etc, use ofCVV2.)
- Staff education and consumer awareness
- Effective use of First Data Alert detection
Cheque Fraud
- What is cheque fraud?
- Why is cheque fraud critical
- Cheque fraud evolution
- Who is responsible for prevention
- The numbers
- What cheque fraud mean to business clients
- How cheque fraud works
- Impact of technology
- Cheque risk mitigation
- Positive pay cheque matching
- Payee name match
- Cheque imaging
- Electronic balance & transaction reporting
- Electronic payments
Case Study: Fraud Schemes in Nigeria
- A Quick history of Nigerian fraud
- Common fraud schemes in Nigeria including:
- Case Study: advance fee fraud
- Case Study: malicious code
- Case Study: credit card information
Day Two
Fraud Prevention & Internal Controls – Part I
- Review - What do we mean by fraud?
- What are real internal controls?
- 10 reasons controls break down
- The impact of beliefs towards fraud
- Five common fraud beliefs
- Better beliefs
- Common risks for organizations
- Fake vendor scheme
- Theft of donations
- 10 good ideas for creating an anti-fraud environment
Case Study: Satyam
- Who is SATYAM?
- SATYAM – The Devastating Announcement
- Why Satyam fell
- Events Leading to the Fall
- Events After the Fall
Fraud Prevention & Internal Controls – Part II
- Review of the internal controls
- Key aspects of Internal controls
- Segregation of duties
Using Computer-Assisted Auditing Techniques to Detect Fraud
- What are CAATs?
- Data analysis methodology
- Types of CAATs
- The data analysis process
- Data mining
- What is data mining?
- Data mining in solving crimes
- Getting data
- Fraud detection
- Using data mining to fine financial statement fraud
- Examples of fraud analysis
- Detection Techniques: digitizing
- Case Study: Bearings Bank
- Case Study: The fool service motor pool
Fraud Prevention - The Role of the Compliance Officer
- Knowledge is liability
- Responsibilities for fraud prevention and detection
- How well do you Know Your Employees?
- Anomalies and symptoms
- Fraud Indicators – Finding the truth
- Internal controls
- Cash misappropriations
- Embezzlement
- Skimming & lapping
- Larceny
- Fraudulent disbursements
- Elderly exploitation
- Three common questions to fraud investigations
- The employees’ role
Case Study – Bernard L Madoff Investment Secureties
- A brief history
- A long list of red flags
- the final analysis
- The continuing investigation
- Madoff by the numbers
Richard Barr
Richard holds a B.S. in International Business Administration from San Jose State University in California. His professional experience spans 19 years, five of which were spent with Wells Fargo Bank. Another five years were spent honing his global banking skills, when Richard was involved with International Trade Finance, Real Time Gross Settlement and Cross Border Banking. The past nine years have been in the private and high-tech sectors providing high-level consulting services, business analysis, project management and training to a wide range of banking clientele across the globe.
He has spent extensive time servicing a diversity of “financial institutional” clients, in South Africa, Poland, Sweden, Ireland, Netherlands, Greece, Bermuda, Malawi, United Kingdom and across North America. Clients include AIB Bank, Eurobank, ABSA Bank, CitiBank, Swedbank, INDEbank, IBM, Montran and Fundtech, as well as many others.
Richard has also filled the role of advisor to central banks on payment systems and technical payments issues. Furthermore, key staff from the Bank of England, South African Reserve Bank, Central Bank of Ireland and Bank of Portugal who have attended training sessions presented by Richard.
28-29 November 2010 Dubai
Early Bird till 30 September £1850
After that date £1995
2 people - 5% discount, 3 people - 10%. Delegates have to be from the same company and book at the same time
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Europe 2010
Contact us to find out about the next edition of this course
Early Bird till 30 September £1795
After that date £1995
DISCOUNTS
- 2 people - 5% discount, 3 people - 10%. Delegates have to be from the same company and book at the same time.
- If you book for 2 courses at the same time you will receive 10% of the full value of the cheaper course.
IN-HOUSE TRAINING
If you have a team of 4 or more this course can be customised and organised in-house at your convenience in any of your offices worldwide. Contact one of our advisors to find out more.
Call us now on +44 (0) 207 193 5035
or send an e-mail to enquiry@eurekafinancial.com
