Fraud Prevention & Detection
Overview
Fraud costs organisations a significant share of their revenue every year. This course helps professionals understand how fraud happens, assess fraud risk, design preventive controls, detect warning signs and respond appropriately when fraud is suspected.
Who should attend
Auditors, finance and compliance staff, risk managers, and managers responsible for controls.
Training methodology
Interactive presentations, practical exercises, case studies, group discussions, role-plays where relevant, and a personal action plan that participants apply in their own work.
Objectives
By the end of this course, participants will be able to:
- Explain common fraud schemes and the fraud triangle
- Assess fraud risk in processes
- Design preventive anti-fraud controls
- Detect red flags using data and observation
- Respond to suspected fraud properly
Course outline
Day 1Understanding Fraud
- Definitions and types
- The fraud triangle
- Cost of fraud
- Fraudster profiles
- Case discussion
Day 2Fraud Schemes
- Asset misappropriation
- Corruption and bribery
- Financial statement fraud
- Procurement fraud
- Scheme analysis
Day 3Fraud Risk Assessment
- Fraud risk methods
- High-risk processes
- Scoring and prioritising
- Fraud risk register
- Workshop
Day 4Prevention and Detection
- Anti-fraud controls
- Red flags
- Data analytics tests
- Whistleblowing
- Exercise
Day 5Response
- Initial response
- Investigation basics
- Recovery and legal action
- Anti-fraud programme
- Action plan
