Preventing Employee Fraud Course

Fraud continues to cause sleepless night to organisations around the world. As employees remain the greatest assets to any organisation, so are they the greatest threat. This course is intended to bring the rudiments of fraud, causes and motivations of fraud and employee psychology to expose, control and deter frauds

Learning Objectives:

At the end of this training, participants will be able to:

• Identify the elements of frauds and misconduct
• Discuss employee frauds
• Explain various types of employee fraud and their causes
• Describe the detection and prevention of employee fraud
• Display the required knowledge; skills and techniques needed to prevent, detect and deter fraud in organizations

Course Contents

Day One

• What Is Fraud
  • Legal definition
  • Employee Fraud or Occupational Fraud
  • Fraud Infographics

• Why people engage in fraud
  • The fraud-triange
    • Sufficient pressure
    • Adequate opportunity
    • Ability to rationalize a dishonest act

• Various types of employee frauds
  • Larceny
  • Skimming
  • Asset Misappropriation
  • Falsification of records
  • Collusion
  • Corruption
  • Control over-ride

Day Two

• How Fraud Hurts the Organization
  • Lost resources
  • Decreased productivity
  • Investments of time and money into investigation
  • Remediation
  • A hit to the company’s reputation
  • Distorted company goals through financial engineering
  • Lowered employee morale.

• How Fraud Hurts Employees
  • Increased employee scrutiny
  • Decreased trust throughout the organization
  • Possibility of decreased salaries
  • Possibility of loss of bonuses
  • Possible layoffs
  • Need to clean up after any mess created.

• Fraud Indicators
  • Methods of discovering frauds
  • Financial/Transactional Red Flags
    • red flags regarding the structure of or personnel involved in a transaction
    • red flags within the organization’s operations
    • red flags within the accounting system
    • red flags regarding the organization’s financial performance

Day Three

• Red Flags of Fraud
  • living beyond their means
  • financial difficulties
  • unwilling to share duties
  • unusually close relationship with vendor/customer
  • wheeler/dealer attitude 
  • defensiveness
  • addiction problems
  • unwilling to take vacation days
  • constant complaints about inadequate pay
  • complaints about lack of authority.

• Fraud Control Measures
  • Fraud Policy
  • Ethical Policy
  • Whistle Blowing and Fraud Hotlines