Fraud Risk Management - CPD Accredited
Course Overview
Fraud Risk is one of the many types of risks to be managed by an organisation; however, many risk management professionals tend to underestimate the role of fraud in the scope of their professional duties. The failure to properly manage this risk can cause catastrophic results. Building an effective fraud risk management program to combat organisational fraud required solid understanding of how and why it's perpetrated. This certification course will discuss the components of a comprehensive and effective fraud risk management program including the elements of deterrence, detection, investigation and remediation.
Know Your Risk (KYR) Training & Learning Solutions is a boutique international specialist risk management training organization catering to the training requirements for corporate and institutional clients in the field of risk management. All training programs are tailored and designed by sourcing information and knowledge from global best practices in risk management. Programs being delivered by KYR Training & Learning solutions include two, three, four and five day programs that are delivered either as onsite or via remote learning. Programs on various risk management topics involved Operational Risk, Fraud Risk & Conduct Risk have been successfully delivered by KYR Training & Learning Solutions to international banking and financial services clients onsite in Dubai, Singapore, Australia and Muscat with further international trainings planned for delivery internationally across multiple locations.
Know Your Risk (KYR) Training & Learning Solutions is a boutique international specialist risk management training organization catering to the training requirements for corporate and institutional clients in the field of risk management. All training programs are tailored and designed by sourcing information and knowledge from global best practices in risk management. Programs being delivered by KYR Training & Learning solutions include two, three, four and five day programs that are delivered either as onsite or via remote learning. Programs on various risk management topics involved Operational Risk, Fraud Risk & Conduct Risk have been successfully delivered by KYR Training & Learning Solutions to international banking and financial services clients onsite in Dubai, Singapore, Australia and Muscat with further international trainings planned for delivery internationally across multiple locations.
Instructors
Experienced and versatile Risk Management Executive with over 20 years of expertise in the banking and financial services sectors across Australia and Saudi Arabia. Proven track record in leading operational risk functions in complex, high-stakes environments, with significant experience in managing large teams and presenting at the Board level.I specialize in aligning operational risk management with enterprise strategies to drive value-based outcomes and have led transformative initiatives to enhance internal controls, governance, and risk assurance frameworks. My work includes developing and implementing strategic operational risk frameworks, policies, and robust enterprise-wide risk metrics and registers, along with optimizing risk management systems and applications.As a global subject matter expert, I deliver highly sought-after international corporate training programs featuring f... Read More
Course Outcomes
- Concept of Fraud, types of Fraud and drivers of Fraud
- Identify fraud risks and the factors that influence them
- Analyse Fraud risk management frameworks and its application to managing fraud risk
- Develop and implement the necessary components of a successful fraud risk management program
- Identify the elements of a strong ethical corporate culture
- Promote fraud awareness to employees at all levels of the organisation
Course Structure
DAY 1: MORNING SESSION
- Definition of Fraud- What is Fraud
- Types of Fraud
- Fraud examples
- Fraud Scenario case study - with no money involved
- Drivers of fraud
- The Fraud Triangle
- Types of Fraudsters
- Profile of Fraudsters
- A look into Fraud by product and Event types: Cards, Ponzi Schemes, Dummy accounts, Cash Cheques/Cheque books and Hijacking of customers accounts through hacking of their email accounts.
DAY 1: AFTERNOON SESSION
- Fraud Management and Fraud prevention
- Fraud Risk Management Framework components
- Fraud Detection
- Components of an Anti-Fraud Strategy
- Role of a Sound ethical culture
- Reporting mechanism and whistleblowing
- Benefits of a Whistleblowing Culture
- Fraud Indicators: Warning signs and Fraud alerts
- Tools & Techniques to manage fraud
- Role of a Fraud Response Plan
DAY 2: MORNING SESSION
- Example of Fraud policy
- Steps towards an effective Fraud prevention plan
- Principles of Fraud Risk Management
- Fraud Risk Governance
- Fraud Risk Assessment
- Fraud prevention
- Fraud Detection
- Case Study Analysis of 2 Fraud Events by type : Fraud Event involving Bank, Customer Committing External Fraud and Fraud Event of Staff Involvement in Internal Fraud
DAY 2: AFTERNOON SESSION
- Monitoring & Reporting
- Role of Internal Audit in Fraud Management
- Role of Code of Conduct
- Communication and training in Fraud Management
- Enforcements and Accountability in Fraud Management
- Attributes of a well designed investigation process
- Role of Corrective Action
- Role of Technology in Fraud Risk Management
- Responding to a Fraud Incident
Course Assessment
Case studies and exercises are used throughout the course to reinforce concepts covered.
Target Audience
Bank and financial institution auditors
Controllers and corporate managers
Forensic and management accountants, accounts payable and financial analysts
Governance, risk management and compliance officers
Internal and external auditors, CPAs and CAs
Certified Fraud Examiners and anti - fraud professionals.
Recommended Resources
Participants will have access to a range of recommended resources through the LMS platform. These resources will provide deeper insights into the topics covered in each module and further enhance their understanding of Islamic finance and capital markets.
Certificates
Upon successful completion of the course requirements, participants will receive a
certificate of completion from ExpertGate.
