FRAUDULENT PRACTICES, METHODS OF INVESTIGATION AND PREVENTION

Live-Online Training: N166,625.00
Classroom Training: N 247,250.00
3 - 4 participants: 5% discount
5 or more participants: 10% discount

(Available also for Customised Training by Duration, Venue & Fee)

Programme Description

This course demonstrates new techniques in fraudulent practices, how to detect and also fight them. Participants will learn how to write lucid reports, present expert opinions as well as how to prosecute fraudsters in the courts of law.

Course Contents

DAY ONE

What Fraud Is and What It Is Not

• Legal definition
• What behaviours are unacceptable
• Errors and abuse.

Fraud Perpetrators

• The fraud-triangle theory
• • sufficient pressure
  • adequate opportunity
  • ability to rationalize a dishonest act
• Dispel what a fraud perpetrator looks like
• • age groups
  • income levels
  • both genders.

How Fraud Hurts the Organization

• Lost resources
• Decreased productivity
• Investments of time and money into investigation
• Remediation
• A hit to the company’s reputation
• Distorted company goals through financial engineering
• Lowered employee morale.

DAY TWO

How Fraud Hurts Employees

• Increased employee scrutiny
• Decreased trust throughout the organization
• Possibility of decreased salaries
• Possibility of loss of bonuses
• Possible layoffs
• Need to clean up after any mess created.

How to Investigate and Identify Fraudulent Practices

• Financial/Transactional Red Flags
• • red flags regarding the structure of or personnel involved in a transaction
  • red flags within the organization’s operations
  • red flags within the accounting system
  • red flags regarding the organization’s financial performance

DAY THREE

Behavioral Red Flags for Fraudulent Practices

• Living beyond their means
• Financial difficulties
• Unwilling to share duties
• Unusually close relationship with vendor/customer
• Wheeler/dealer attitude 
• Defensiveness
• Addiction problems
• Unwilling to take vacation days
• Constant complaints about inadequate pay
• Complaints about lack of authority.

DAY FOUR

Fraud Audit Process

• Fraud Risk Assessment
• Interviewing for fraud
• Forensic evidence
• Most frauds uncovered by whistle blowing
• Fraud deterrent designs

Prevention and Punishments for Fraudulent Acts

• Spelled out explicitly to all in advance
• Addressed with certainty, swiftness, and severity.
• Litigation