Fraud Prevention

Fraud Prevention

Frequency: Quarterly  

Duration: 2 hours

Cost: £299 + VAT

Course Overview:

Fraud is often referred to as the “forgotten risk” yet official statistics indicate that £85 billion per year is lost to fraud and instances of white collar crime is on the rise.

‘Cybercrime’ is also on the increase. Figures show that cybercrimes are fast becoming the “crime of choice”. Seven out of ten frauds involve some kind of technology. Prosecutions have trebled over the last three years, with a 200% increase in the number charged with “cyber” offences.

Firms ignore this ever present threat at their peril. The risk is in thinking that “it can never happen here”. It can, and could be happening now!

From the Regulatory perspective firms are expected to be able to demonstrate that they have complied with 3.2.6R of “Senior Management Arrangements, Systems and Controls”:

A firm must take reasonable care to establish and maintain effective systems and controls for compliance with applicable requirements and standards under the regulatory system and for countering the risk that the firm might be used to further financial crime.”

This course is a stark reminder that the above requirement includes managing the risk of fraud.

The course is aimed at assisting firms to fully understand the fraud risk, the practicalities involved in mitigating this risk and providing advice on what to do if it happens.

Course Objectives: 

  • Describe what fraud is, who the fraudsters typically are and why they do it
  • Explain the Regulator’s approach to fraud
  • Explain different types of fraud, including “cybercrime”
  • Consider measures for fraud prevention

Key topics:

  1. The Fraud Act 2006 and the Regulatory approach
  2. Who is a typical fraudsters
  3. What are the motives and how can we remove the temptation to commit fraud?
  1. Frauds – the different types and their prevention
  2. Managing the risk of fraud

Course aimed at: Senior Management/Compliance Officers/Internal Auditors/Fraud Officers

Maximum numbers: 12

This course can also be delivered as an onsite course or as an instructor lead course at a firm’s office.