Bank Fraud Prevention

Fraud Prevention Training Courses

Unscrupulous and fraudulent practices cost banks billions of dollars each year. In simpler
times, bank robberies were just about the only security threat that banks faced. Now, bank
security and fraud personnel must contend with a litany of new fraud issues, such as:

Credit card fraud

Internet security and fraud

Check fraud

Identity theft and fraud information system breaches

Deposit fraud

New account fraud

Pfishing

Unfortunately, most banks do not have the resources to offer its employees the internal
training to practice proper fraud prevention. As such, Bank Training Center offers bank fraud
prevention training solutions specific for ones career stage, needs, and more!
Bank Training Center offers bank fraud prevention training courses to help you with your
career needs. And to fit your busy schedule, we offer several formats for bank fraud
prevention training, including fraud prevention seminars, self-study fraud prevention training
materials, and online fraud prevention webcasts/webinars/audio conferences.

About This Course

Fraud Auditing Boot Camp is designed to provide you with a thorough understanding of the
types of fraud taking place in todays business environment, and the techniques you need to
build effective fraud prevention and detection measures into your audit plan.
In four intensive days you will learn fraud schemes typically found in organizations, the red
flags of fraud, how to minimize fraud, the impact of internal controls on fraud, and the steps
to investigating fraud should it strike your organization. You will learn a proven fraud audit
methodology, and cover such high-risk areas as misappropriation of assets, financial
statement fraud, and management fraud.

You will focus on fraud detection strategies, the composition of a fraud scheme, fraud risk
assessment, and the legal considerations of fraud.
Agenda

Fraud Auditing Defined

Update On Professional Standards

The Realities Of Fraud

Auditing For Fraud

Fraud Risk Assessment At The Enterprise Level

Fraud Risk Assessment At The Audit Level

Financial Statements

Misappropriation Of Assets

Conducting The Fraud Investigation

The Legal Implications Of Fraud Auditing

Fraud Prevention Programs

Bank and Financial Institution Fraud

In this eye-opening 3-day seminar you will cover in depth fraud schemes committed by
employees, vendors, and customers of financial institutions, including rogue trading
embezzlement and external frauds. In addition, you will look at such computer-assisted fraud
schemes as spear phishing and network penetration.
You will learn strategies and techniques you can use to identify and investigate potential
perpetrators and examine internal vulnerabilities that may increase opportunities for fraud in
your institution. You will explore due diligence and know-your-client processes and learn
how to apply these concepts to mitigate risks. You will discover how data analytics can be
used as both a preventive and investigative tool.
What You Will Learn

Trends and Fraud Reporting: ACFE Report to the Nation

The Psychology of White Collar Crime

Fraud Schemes

Computer-Assisted Frauds

Legislation

Managing the Investigation

General Prevention Methodologies

Victim Psychology

Agenda
1. Trends and Fraud Reporting: ACFE Report to the Nation
2. The Psychology of White Collar Crime

why they do what they do

personality traits to be wary of

understanding psychological flaws and the impact of adverse life events

the interviewers interaction with different psychological profiles

3. Fraud Schemes

rogue trading

the fall of Bearing Banks, unlearned lessons?

lessons learned from Allied Irish Banks

Societe Generale: Past, present and futures

dormant accounts

is private banking too private?

can you know your customer too well

privacy concerns

infrequent access

embezzlement

cash access

value of information

external frauds

asset Valuation and loan fraud

identity theft and payment systems: phishing

what to look for: red flags and patterns

investigation steps

prevention and controls

impact

4. Computer-Assisted Frauds

social engineering

network penetration

spear phishing

5. Legislation

anti-money laundering

Foreign Corrupts Practices Act

sanctions and regulating bodies

6. Managing the Investigation

terminology

investigation life cycle

investigative and interviewing techniques

trend analysis

computer-assisted auditing tools

continuous auditing

statistical analysis

variance analysis

7. General Prevention Methodologies

conflict of interest reporting

awareness training

tone at the top

policies

fraud awareness programs

hotline management

8. Victim Psychology

traits that make financial institutions and their customers vulnerable

misplaced trust

social engineering

corporate culture

too-good-to-be-true events

financial sophistication

Check Fraud: A Teller's Guide To Spotting

And Preventing It
Description:
It has been estimated that the annual losses due to check fraud are in the billions of dollars and continue to grow steadily as criminals seek new ways to earn a living by defrauding
others.
At the bank, tellers look at hundreds of checks each day, so knowing how to spot a fraudulent
check can help save your financial institution thousands of dollars in losses.
But knowing and doing are often two different things. For instance, tellers may ask: "How do
I know if a check is good?", "What do I look for on a check?", "What do I do if I come across

a check that Im not sure about?", and a myriad of other fraud-related questions. This audio
conference will answer all of these questions and more, in addition to providing an overview
of fraudulent methods with currency.
Learning Objectives:
By attending this audio conference you and your tellers will learn how to:

Identify a fraudulent check

Recognize common fraud schemes

Understand the definition of "negotiable" as it pertains to checks

Identify the most common types of endorsements

Understand the numbers of your financial institutions routing number

Training Employees to Prevent Fraud

Most fraudulent activity can be caught by putting effective internal processes and procedures
in place to minimize the chances for illegal behavior. But don't forget one of the best sources
of fraud prevention: your employees.
In order to detect and prevent fraud, employees must first know what to look for, and then
what to do about it. (Keep in mind this article will focus on preventing fraud, not on
preventing theft.)
Employee fraud can take place in many ways, but by far the most common involves
accounting, accounts payable, and payroll functions. In order to commit fraud, it helps to
have access to money and accounts. Employees who submit expenses reports are also prime
sources of fraud, especially if your internal controls are weak.
So let's start with the basics. Train your employees so they understand company policies and
procedures. Make sure they know and follow all rules and guidelines. And make sure they
understand the repercussions of committing a fraud up to and including criminal
prosecution.
After an internal company review, put the following processes in place and train employees
to follow these processes. Internal training should include:

Create separate duties with checks and balances built in. Require multiple approvals
for expenditures. Have multiple employees keep the books, handle payroll, make
deposits, and reconcile bank statements.

Cross-train employees to perform basic financial functions. Relying on one person to

handle a financial process makes it easier for that person to commit fraud.

Train employees to perform basic internal audits outside of their normal work area.
Oversight is a great deterrent.

Then focus on training employees to identify external sources of fraud, including identity
theft. (Not only is doing so a good practice to help protect your business and your customers,
but creating procedures to stop identity theft will also soon be the law. See the article
Understanding the Red Flags Rule for an overview of upcoming government legislation.)
Teach employees to watch for:

New account fraud setting up accounts based on stolen identity or personal

information

Credit card fraud using credit cards without authorization

Check fraud using checks without authorization, or using fake checks

Phishing fraudulent attempts to get personal or company information that can be

used to perpetrate identity theft

Identity theft using another individual's personal or financial information without

his or her consent

Invoicing for products or services that were never provided

Invoicing for over-utilization of services (i.e. billing for unneeded services; the
services were performed but were not needed or requested)

Kickbacks

The key to providing effective training is to first determine what policies and procedures you
wish to put in place. If you run a retail operation and you wish to prevent identity theft, for
example, you may decide employees should verify two forms of identification before
accepting checks or credit cards. If that is your policy, train your employees and monitor that
they, in fact, consistently follow the policy. The same is true for internal controls; if you
decide one employee should verify the accuracy of incoming shipments at the receiving
dock, and another employee should double-check the accuracy of items received before
placing them into inventory, train employees appropriately and then check periodically to
make sure your policies are being followed.
Then establish set procedures for what employees should do if they suspect internal or
external fraud. Your procedures for handling external fraud can be straightforward and
should not require significant judgment on the part of the employee. For example, if a cashier
suspects that a customer is attempting to use a stolen credit card, they should immediately

notify a member of management before proceeding further.

With internal fraud, the actions taken may not be so clear-cut. Many employees will hesitate
to accuse others of illegal or unethical behavior; create a climate of trust by establishing a
confidential way for employees to share their concerns. Confidentiality protects the whistleblower and the alleged perpetrator; if the accusations are unfounded, no one needs to know
there were ever suspicions in the first place.
To prevent fraud, thoroughly train your employees, and then follow up to make sure that
training is consistently put into practice.

You are here: Home Prospectus Leadership and Management Short Courses Fraud
Detection and Prevention Course

Fraud Detection and Prevention Course

Course Overview
The programme is designed to give you a solid understanding in fraud detection. Ensure you
are fully equipped to fulfil your role and prevent fraud in your organisation
Course Objectives
By the end of the course you will be able to:

Define Fraud & Spotting The Red Flags

Gain A Sound Legal Understanding

Apply Fraud Detection Techniques

Develop An Effective Fraud Prevention Plan

Understand about Pre-Employment Screening & Whistle-Blowing

Walk Through A Typical Fraud Investigation

Understand Fraud Detection & Profile Auditing

Design a Fraud Response Plan

Better understand Digital Evidence & Computer Forensics

Apply Forensic Statement Analysis

Know how to conduct Interviews With Suspects

Course Outline
Topics include:

Fraud Waste & Abuse

Managing Risk

Forensic Accounting

Fraud Investigation

Fraud Classification

Fraud Lifecycle

Red Flags

Investigation Accounting and Litigation Support

Course Summary and Close