Fraud Investigation, Detection & Prevention Training

Fraud Investigation, Detection & Prevention Training

Program Overview

Forensic, fraud and financial litigation support are among the hottest areas of practice with expected growth in the coming years. Accounting scandals like Enron and WorldCom have surged the demand for skilled forensic accountants so that organizations could protect themselves from fraud proliferation and white-collar crime. Fraud investigation, detection, and prevention form a triad of activities that can collectively make or break the financial stability and growth potential of any entity.

In today’s era safeguarding your organization’s hard-earned revenue is simply a must and a matter of survival. Fraud Investigation, Detection & Prevention Workshop has been designed to meet the needs of accounting and finance professionals alongside business leads bridging knowledge and skill gaps in fraud auditing, examination, and investigation.

Target Audience

This extensive short-term training course is a perfect suit for:

  • Public accountants and internal auditors
  • Fraud examiners and forensic accountants
  • Governmental accountants and attorneys
  • Risk management professionals
  • Regulatory compliance specialists
  • Financial security officers
  • External audit professionals

Program Objectives

At the end of the course, participants will be able to:

  • Demonstrate a detailed understanding of various fraud schemes and common tactics employed by fraudsters
  • Detect red flags associated with fraudulent activities from unusual patterns, inconsistencies, and discrepancies in financial records to anomalies in transactions and behaviors
  • Utilize a variety of tools and techniques for effective and timely fraud identification
  • Make use of algorithms and data analytics tools in the fraud detection process
  • Deploy fraud control measures organization-wide and mitigate risks of occurrence.

Program Contents

First Day

  • Understanding fraud and its impact
  • Global fraud scandals and what we can learn from past examples
  • The role and importance of fraud detection for various sectors
  • Background to fraud and forensic accounting
  • Fraud Cycle and Typology
  • Red flags of fraud: unusual patterns, anomalies, behavioral indicators, financial record inconsistencies
  • Fraud triangle and diamond

Second Day

  • Common fraud schemes
  • Fraudster profile
  • High and low-level thieves
  • Data analytics and predictive modeling
  • Tools and techniques for fraud detection
  • AI and machine learning for timely fraud identification
  • Fraud reporting and escalation
  • Whistleblower programs and fraud prevention

Third Day

  • Purpose and goals for fraud investigation
  • Civil vs. criminal investigations
  • Regulatory response to fraud
  • Fraud evidence collection; Chain of custody for evidence integrity
  • Evidence handling and preservation
  • Legal considerations
  • Financial analysis in fraud investigation
  • Tracing funds and transactions

Fourth Day

  • Interviewing and interrogation in fraud detection
  • Fraud risk assessment and internal controls
  • Fraud monitoring and oversight
  • Compliance requirements for fraud prevention
  • Cyber-related fraud risks
  • Prevention of data breaches and cyber attacks
  • Ethical considerations in fraud prevention

Fifth Day – Full-day practicum

The last day of the workshop shall entirely be dedicated to hands-on practice on fraud investigation, detection, and prevention. Throughout this session, program delegates shall apply acquired skills to real-life fraud scenarios via hands-on exercises, simulations, case studies, and collaborative activities. These shall cover:

  • Simulation on fraud detection
  • Evidence collection and preservation exercise
  • Financial analysis of potential fraud cases
  • Fraud prevention strategy design
  • Tech applications for fraud detection and prevention.

Program Methodology

Fraud Investigation, Detection & Prevention Workshop in Ulaanbaatar, Mongolia is an extensive training course and extremely practice oriented. The presenter will use various modern & effective adult learning techniques while leading the program. These include but are not limited to: formal presentation, real life cases, practical exercises, situational simulations, Numerous Excel Tasks, Group Work and Individual Assignments. The trainer will have an open discussion and request for feedback after each and every sessions in order to ensure the maximum comprehension of the material covered for the participants. Complex tasks will be visualized and demonstrated in a simple manner, so that every topic is easy to understand and can be instantly applied in practice.

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