Bank & Financial Institution Fraud.
COURSE OVERVIEW
DURATION
5 days
DATE
06 – 10 March, 19 – 23 June, 18 – 22 Sept, 04 – 8 Dec 2024
FEE
£4500
LOCATION
The Business Xchange Hub, Marco Polo House
3-5 Lansdowne Road, Croydon, Surrey, CR0 2BX United Kingdom
Course Objective:
In this eye-opening 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.
Who should attend
Bank and Financial Institution Auditors, Audit Directors, and Audit Managers; External Auditors; Bank and Financial Institution Accountants; Fraud Investigators and Members of Special Investigations Units
What You Will Learn
- The Psychology of White Collar Crime
- Fraud Schemes
- Computer-Assisted Frauds
- Legislation
- Managing the Investigation
- General Prevention Methodologies
- Victim Psychology
This course can also be taken in
Accra: 26 Feb – 01 March 12 – 16 June 11 – 15 Sept 04- 08 Dec 2024
Dubai: 26 Feb – 02 March 20 – 24 May 29 July – 02 August 30 Sept – 4 Oct 2024
Texas: On Request
Course Content
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 interviewer’s interaction with different psychological profiles
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
Computer-Assisted Frauds
- social engineering
- network penetration
- spear phishing
Legislation
- anti-money laundering
- Foreign Corrupts Practices Act
- sanctions and regulating bodies
Managing the Investigation
- terminology
- investigation life cycle
- investigative and interviewing techniques
- trend analysis
- computer-assisted auditing tools
- continuous auditing
- statistical analysis
- variance analysis
General Prevention Methodologies
- conflict of interest reporting
- awareness training
- tone at the top
- policies
- fraud awareness programs
- hotline management
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