Combatting Fraud with Strong Corporate Ethics & Effective Prevention & Detection Systems

Survey Result:
“The typical organization loses in average 6% of its annual revenues to fraud.”

Introduction

Fraud continues to make news headlines all over the world affecting small to large organisations alike. A lot is at stake when fraud happens, as millions of dollars can be lost not to mention a damaged or destroyed reputation that often can even affect the survival of an organization. Fraud can occur in any area of your company’s operations: accounting, sale, procurement, R&D, etc It can also be committed at all levels from the office cleaners to the top level of your organisation. It can come from internal as well as from external parties. The opportunity for fraud lurks in every corner with devastating consequences. It is a real present danger you cannot afford to ignore.

This practical workshop will provide you with the most up date current methodologies and best practices effective to protect your organization against both internal and external fraud.

Learning Objectives: How you will benefit

• Understanding what is fraud and decipher the psychology of a fraudster
• Discovering the trends and dynamics of frauds and financial crimes and how its evolving
• Learning about the latest frauds schemes, threats and deception techniques
• Identifying and determining the vulnerabilities to fraud within your organisation
• Fostering strong corporate values of transparency, ethics and integrity to combat fraud
• Ensuring accurate financial disclosure (example the Sarbanes-Oxley Act and its system of control for fraud prevention)
• Strengthening your organisation’s internal control to better prevent and detect fraud
• Establishing whistleblowing hotlines as an early warning system
• Acquiring and mastering knowledge on crucial techniques and effective investigation procedures for fraud detection

Workshop Outline: What you will cover

• Understanding what is Fraud & the importance of Business Ethics
• Analysing the psychology of Fraudsters
1. Fraudsters Profiles
2. Models to understand the Psychology of Fraudsters
• Framework for Fraud Risk Management
1. Typology of Frauds
2. Use the fraud triangle understand the factors leading to fraud
3. Conduct an effective Fraud Risk diagnostic of your Organization
4. Fraud Risk Management strategy and technique for Prevention and Detection
5. The Fraund Investigation Process
• Focus on Whistle blowing Policy
1. Why a Whistle blowing policy is important
2. What is a Whistle blowing policy
3. Framework for a Whistle blowing policy process

Toolbox

• Interactive case studies
• Develop fraud risk assess scorecards
• Example of code of Ethics & Conducts
• Template for Fraud investigation process
• Template for whistle blowing system
• Risk register for fraud risks

Testimonials

“The trainer has in-depth experience in Fraud risk management and shared with us many very practical tools. The case studies were excellent and really helped me understand that fraud can happen anywhere. It is time to have a full assessment in my company”. Operations Director, Freight Forwarding company