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2 days Seminar on BFSI- Detecting, Preventing and Reporting Internal and External Fraud
Presented By Complianzworld
Thursday, February 12th at 9:00am PST - Friday, February 13th, 2015
Online sale ends: 02/11/15 at 6:00pm PST
Complianz World
San Francisco, CA 94101
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Detecting, Preventing and Reporting Internal and External Fraud

Location: San Francisco, CA
Dates: MAR 12th – 13th, 2015

Speaker: Peter Goldmann, BFSI

Peter Goldmann, has 25 years of experience as a business journalist and trainer, having launched, edited and published numerous business trade periodicals covering small business, international trade, management strategy, banking and personal finance. He is a Certified Fraud Examiner (CFE) and a member of the Editorial Advisory Committee of the Association of Certified Fraud Examiners (ACFE) as well as an active member of the Institute of Internal Auditors, the High-Tech Crime Investigation Association and the IOFM Controller Certification Advisory Board. He is a regular columnist for the ACFE’s newsletter, The Fraud Examiner and is a frequent contributor to other leading industry publications on anti-fraud topics. He has appeared on Fox Business News, The Wall Street Journal This Morning, The New York Times and Internal Auditor magazine. Peter Goldmann is president of White-Collar Crime 101 LLC, the publisher of White-Collar Crime Fighter, a widely read monthly newsletter for internal auditors, controllers, corporate counsel, financial operations managers and fraud investigators. Peter is the author of Fraud in the Markets: Why it happens and How to fight it, published by John Wiley & Sons, as well as four other anti-fraud books. Peter also developed FraudAware, the leading fraud awareness training program. A user-friendly learning tool, FraudAware uses workshop, Webinar and E-Learning formats to educate employees and managers at all levels in how to detect, prevent and report incidents of fraud or suspicious conduct.

Course Description:

Organizations of all kinds and sizes are increasingly threatened by fraud. Embezzlement, kickbacks, check fraud, financial statement fraud and vendor billing schemes are just a few of the countless crimes committed by employees and outsiders.

Reasons to attend:

This 2 day seminar will provide auditors and other financial professionals with a strong foundation of practical knowledge about how the common frauds are committed. The program will then move on to the specifics of...

  • Who commits fraud?
  • Why employees commit fraud
  • How to detect the red flags of common schemes
  • Essential fraud detection tools and techniques
  • Software tools for auditing for fraud
  • Best practices for developing and implementing anti-fraud controls

Target Audience:

  • Internal auditors
  • External auditors
  • Accountants
  • Bookkeepers
  • Loss prevention managers
  • Controllers/Treasurers
  • Compliance officers
  • Security managers
  • Fraud examiners
  • Accounts payable managers
  • Procurement managers


Day 1:


  • Statistical overview of the fraud problem
  • External versus Internal Fraud—short overview of differences
  • Who commits fraud -- (ACFE data on women versus men, age groups, etc)
  • Why employees commit fraud (The Fraud Triangle)
  • Lessons from fraudsters:(Examples of real-life frauds that can and do affect organizations across industries)

Common Types of External  and Internal Fraud Today

External Fraud:

  • Vendor fraud  (Case studies that show ways vendor fraud can be committed)
  • Check fraud  (illustrations of forged/altered checks)
  • ACH fraud – latest external cyber-schemes
  • Cyber-crime (hacking/information theft, system sabotage, viruses, etc)
  • Customer fraud          
  • Social engineering to commit fraud (Phishing, spear-phishing, smishing, pretexting)

Internal Fraud:

  • Embezzlement (General definition; Koss Corp. embezzlement case)
  • Cash theft (Skimming, lapping)
  • T&E fraud/Misuse of company credit cards/P-cards
  • Collusion w/ domestic or international vendors (kickbacks, bribery)
  • Theft/falsification of confidential information (Example: Heartland breach or other case) 
  • Identity fraud (Graphic description of ways internal ID theft/fraud is committed; pretexting, using co-worker’s credentials to commit fraud; theft of customer ID)
  • Theft of assets (laptops, physical equipment, software piracy)
  • Payroll Fraud (Manipulating payroll systems; ghost employees)
  • Procure-to-Pay fraud (Procurement — Receiving—Accounts Payable Cycle)
  • Financial reporting fraud  (Case study: TBA, depending on latest developments)
  • Intro to Internet/cyber-fraud (Case Study: TBA)

Q&A and Interactive Discussion


Conducting a Fraud Risk Assessment and Recognizing the Red Flags of Internal Fraud

The Fraud Risk Mitigation Cycle—

Implementing a organization-wide system for detecting, preventing and investigating fraud

  • Steps to conducting a successful fraud risk assessment (FRA)
  • Embezzlement red flags (Behavioral changes, accounting anomalies)
  • Cash theft red flags (anomalies in daily reconciliations, check-for-cash indicators, etc)
  • T&E fraud red flags (Unusually high expense claims; photocopies of receipts, etc)
  • Internal billing fraud red flags (frequent  switches in vendors; vendor address is a P.O. box)
  • Collusion/kickback/bribery red flags (long-time vendor suddenly replaced, pricing anomalies, etc)
  • Identity fraud red flags (internal) (Employees complain of ID theft problems, customer complaints)
  • Theft of confidential information and intellectual property (Examples: Theft of customer credit card data and other PII; Scientific fraud/fraudulent scientific research)
  • Theft of assets/industrial equipment (laptops, software piracy, confidential/proprietary information)
  • Payroll fraud (terminated employees still receiving checks; payroll amounts fluctuate)
  • P2P fraud red flags (Suddenly higher costs of supplies or  services; low quality of delivered merchandise; inventory anomolies)
  • Financial reporting fraud  (Unusually high revenues, odd patterns in receivables, etc)
  • Counterfeiting and piracy  (Graphic samples of red flags)
  • Internet/cyber-fraud   

 Q&A and Interactive Discussion

Day 2


Fraud Detection

Red Flags are the Key to Fraud Detection and Prevention. Once you know what red flags to look for you can implement effective detection, investigative and forensic accounting techniques.

Introduction: How Frauds Are Most Often Detected (General ways: ACFE Chart)

Additional General Detection Methods:

Whistleblower hotlines: How to set them up and manage them (detailed discussion of do’s and don’ts). Detailed instruction on best practices and mistakes to avoid Monitor Employee Email, other activities               
2. Surprise Internal Audit
3. Regular internal audits, incorporating fraud audit testing
4. Ratio analysis    
5. Physical inspection of inventory
6. Manual review of all vendors (to ensure absence of sham vendors)
7. Manual review/assessment of payroll sample data (to ensure absence of ghosts)

Data Mining/Analytics
(is both detective and investigative. I/A can use D-M to screen for red flags) Basic steps and techniques and how to gather required data.

Examples of Detective Measures at Work

  • Accounts Payable Fraud Auditing (List of AP fraud-audit/detection measures)
  • Payroll Fraud Auditing (List of payroll fraud-audit/detection measures)

Basic Fraud Investigation Techniques
Forensic Accounting Investigation—What it Is (Different from Internal Audit/ When to Call in Forensic Accountant/Auditor) Forensic accounting/auditing techniques: Data Mining and Analytics (as with detection, it is the most powerful forensic accounting investigative tool); ratio analysis

Gathering evidence – Document retention, chain of custody, preservation, mistakes to avoid
1. Securing crime scene                                              
2. Interviewing/interrogating suspects
3. Documenting findings

Q&A and Interactive Discussion

Internal Controls and Other Fraud Prevention Measures:

  • Who Should Manage Anti Fraud Activities
  • Internal Controls: Do’s and Don’t’s
  • Best Practices in Anti-Fraud Controls.
  • General controls: Segregation of Duties, Delegation of Authority, Background investigation
  • Specific operations-level controls for each      fraud category.

Q&A and Interactive Discussion



Please Click  hear  for More Information

To Enroll for This Program today  please click hear

Thank you & Regards,

Kevin Roberts,

Training Manager,


Call us at this Toll Free number: +1-866-978-0800


Presented By

9:00am to 6:00pm
Doors open at 9:00am

General Admission: $1,299.00


Complianz World<br> San Francisco, 94101


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