Employee Fraud: Prevent, Detect, Manage

Employee fraud takes many forms: embezzlement, kickbacks, check fraud, financial statement fraud and vendor billing schemes, plus newer computer and internet-based schemes as technology advances.

This 60-minute employee fraud training starts with a statistical overview, who commits fraud and why, using the fraud triangle, and lessons from fraudsters. You'll review common internal fraud types and red flags, how to run a fraud risk assessment, and the fraud risk mitigation cycle.

The session then covers detection, including how frauds are most often found, data mining and analytics, and fraud audit techniques, followed by prevention: who should manage anti-fraud work and best practices such as segregation of duties, delegation of authority and background checks.

• Describe the scale of the fraud problem and who commits fraud
• Explain why employees commit fraud using the fraud triangle
• Identify the red flags of internal fraud
• Conduct a fraud risk assessment
• Use detection tools and techniques, including data analytics
• Develop and implement anti-fraud controls based on best practices

Understanding fraud

• Statistical overview of the fraud problem
• Who commits fraud
• Why employees commit fraud: the fraud triangle
• Lessons from fraudsters
• Major fraud categories and common types of internal fraud today
• Red flags of fraud

Fraud risk

• Conducting a fraud risk assessment
• The fraud risk mitigation cycle
• An organization-wide system for detecting, preventing and investigating fraud

Fraud detection

• How frauds are most often detected
• Additional general detection methods
• Data mining and analytics for fraud detection
• Fraud audit techniques in action

Fraud prevention

• Internal controls and other prevention measures
• Who should manage anti-fraud activities
• Best practices in anti-fraud controls
• General controls: segregation of duties, delegation of authority and background investigations

Organizations of every type and size face growing fraud threats, and employee fraud makes up the majority of fraud against organizations. This webinar gives you practical knowledge of how common frauds work, how to recognize their red flags and how to close the control gaps that give dishonest employees opportunities.

It suits auditors, internal control, finance and accounting, compliance and ethics, loss prevention, security professionals and fraud examiners.

• Internal and external audit professionals
• Internal control professionals
• Finance and accounting management
• Compliance and ethics professionals
• Loss prevention and risk specialists
• Security professionals
• Fraud examiners

Jim George is an independent consultant to banks focusing on issues of fraud. He brings over 25 years as a consultant to major banks in Associate Partner and Principal roles at PriceWaterhouse-Coopers Consulting, IBM Consulting in Bank Risk and Compliance and Andersen Consulting (now Accenture). He has also been SVP Operations for a Fortis-US division providing outsourcing services to the banking industry. 

Jim's work has included projects in fraud investigation, fraud prevention, identity issues, compliance and AML (anti-money laundering). His background includes work in bank operations and payments strategy, reengineering, systems and quality improvement.