Financial crime poses a serious risk to all financial sectors, where the organization, stakeholders and customers bear the costs. Fraud may also reduce consumer and shareholder confidence and can impact the reputation of individual financial institutions and potentially affect their financial soundness, the financial sector and potentially economic stability more broadly.

With the background of recent corporate fraud scandals such as Enron, Worldcom and Societe Generale, this session will outline the systems and controls that firms can implement and practice to use as a platform to commence a tailored fraud mitigation program.

Intended for

The course is suited to all staff working in a financial institution, especially those moving into a supervisory or managerial role where they will be expected to have a sound understanding of this particular environment and have regulatory and or fiduciary exposure and accountability.

You Will Learn

After attending this session, attendees will be able to:

  • Demonstrate the nature of the problem of Fraud
  • Explain the actions taken to counter the risk of Fraud
  • Understand the key objectives to detection, monitoring & prevention
  • Display the link between Fraud and Money Laundering
  • Recognize the fundamentals of risk management

Course Content

  • Definition of Fraud and Misconduct
  • The international and regional problem
  • The Fraud triangle and business susceptibility
  • The key objectives to a Fraud program
  • Management responsibility
  • Case study
  • Prevention, detection and response
  • Fraud and Money Laundering
  • Fundamentals and Elements
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