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Fraud Detection, Prevention and Investigation Masterclass

3 Day Training

Dates: Available on Request
Locations: Johannesburg, South Africa
Platform: Available In-Class / Online

Price: Available on Request

Course Introduction

Fraud Detection, Prevention and Investigation Masterclass equip professionals with robust strategies to detect, prevent, and investigate fraud effectively amidst evolving economic challenges and technological landscapes.

Course Objectives

By the end of this Fraud Prevention, Detection, and Investigation masterclass, delegates will be able to:

  • Acquire in-depth understanding of diverse fraud risks.

  • Adopt a fraudster’s perspective to enhance detection capabilities.

  • Learn and apply successful anti-fraud techniques.

  • Foster a proactive fraud prevention culture within your organization.

  • Enhance your fraud policy and create a specialized fraud risk register.

Who should attend?

Professionals in internal audit, risk management, compliance, and finance across both public and private sectors.

Audit, Risk and Governance courses

Training Methodology

Our diverse instructional approaches ensure effective learning:

– Lectures & Presentations: Engage with expert-driven, stimulating content.
– Course Material: Access well-crafted supporting resources.
– Group Work: Collaborate on discussions and case studies for practical insights.
– Workshops & Role-Play: Participate in immersive, scenario-based activities.
– Practical Application: Focus on applying theoretical knowledge in real situations.
– Post-Training Support: Receive extensive support after training for skill implementation.

Training Outline

Day 1: Understanding and Identifying Fraud

Morning Sessions: Fundamentals of Fraud

  • Defining Fraud: Internal, External, Financial

  • Differentiating First & Third Party, Civil, and Occupational Fraud

  • Examination of Financial Statement Fraud

  • Discussion: Enron & Worldcom Case Studies

  • Distinction between Soft and Hard Fraud

  • Digital Fraud: Computer, Card, and Insurance Scams

Exercise: Analysing Wire card Incident

Outcome: Delegates will articulate various fraud types and their execution methods.

Afternoon Sessions: Identifying Fraud & Assessing Risks

  • Recognizing Fraud: Warning Signs and Checklists

  • Psychology Behind Fraud: Motives and Behaviours

  • Exercise: Identifying Red Flags for Fraud

  • The Fraud Triangle Theory

  • Third-Party Risks and Internal Threats

Exercise: Understanding Fraud Terminology

Outcome: Delegates will develop skills to spot fraud and understand the fraudster’s psyche and operational tactics.

Day 2: Strategizing Fraud Prevention

Morning Sessions: Risk Assessment & Data Analysis

  • Identifying and Assessing Fraud Risks

  • Prioritizing Risks and Effective Communication

  • Implementation and Continuous Monitoring

  • Exercise: Isolating and Defining Fraud Risks

  • Data Utilization: Whistleblowing and Plugging Gaps

Exercise: Balancing Data Usage Benefits Against Privacy Concerns

Outcome: Delegates will master contemporary best practices in fraud identification and risk assessment.

Afternoon Sessions: Advanced Anti-Fraud Strategies

  • Leadership and its Role in Fraud Prevention

  • Training and Accountability

  • Enforcing Anti-Fraud Measures

  • Exercise: Building a Preventive Organizational Culture

  • Role of Forensic Accountants in Unravelling Fraud

  • Analysing High-Profile Cases: Madoff and Ponzi Schemes

Outcome: Delegates will evaluate their organizational policies and learn from forensic accounting practices to bolster anti-fraud measures.

Day 3: Tackling Corruption and Embezzlement

Morning Sessions: Bribery & Corruption

  • Understanding the ‘Why’ of Bribery

  • Types of Bribes: Cash and Non-Cash

  • Concealment Techniques in Financial Records

  • Exercise: The Odebrecht Scandal

  • International Perspectives: Global Bribery Examples

  • Legal Framework: FCPA, UK Bribery Act, and Others

  • Exercise: Global Anti-Bribery Legislation

Outcome: Delegates will discern bribery practices and the implications of international anti-bribery standards.

Afternoon Sessions: Embezzlement & Anti-Corruption

  • Fraud vs. Embezzlement: Key Differences

  • Embezzlement Techniques and Indicators

  • Exercise: Identifying Types of Embezzlement

  • Basics of Corruption: Identification and Prevention

Exercise: Studying Corrupt Organizations with Transparency International

Outcome: Delegates will be equipped to detect embezzlement and understand the mechanisms of corruption to enforce a zero-tolerance policy.

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