Key Details

Duration: 3 Hours

Available: In-House only

Overview

Fraud Prevention is high on the regulatory agenda. Documented, appropriate systems and controls to manage the fraud risks are vital to meet the regulatory requirements. It is also important that staff understand the need for effective control to protect the firm from financial loss and possible regulatory action, and themselves...

Fraud Prevention is high on the regulatory agenda. Documented, appropriate systems and controls to manage the fraud risks are vital to meet the regulatory requirements. It is also important that staff understand the need for effective control to protect the firm from financial loss and possible regulatory action, and themselves from suspicion. Compliance with the firm’s policies and procedures is therefore essential.

While internal fraud is on the increase, staff are an essential part of the internal control system. Staff pose a risk as well as a control. This course is designed to provide your staff with an understanding of fraud and the destructive effect it can have both on individuals and the firm in general. The session emphasises the FCA approach to fraud and your firm’s policies in dealing with fraud when it occurs.

The “Whistleblowing” Act (Public Interest Disclosure) will also be described; particularly the requirement to report incidents of mal-practice to Management.

Who is this for?

This course is appropriate for all staff.

  • Understanding the nature of fraud including definitions of fraud and the "Fraud Bill"
  • An explanation of the regulator’s approach to fraud
  • Estimates of how much is involved? 
  • Understanding why fraud occurs
  • Examples of fraud in the industry and typical prevention measures
  • Understanding the firm’s anti-fraud policy
  • The reasons for effective internal controls and compliance with procedures
  • An explanation of the role of the Investigating Officer (typically the Internal Auditor or Compliance Officer)

Those attending will have a greater knowledge of the extent and nature of fraud and the potential impact on their firm should a fraud occur.

Delegate will be able to demonstrate their knowledge of the reasons for firms implementing fraud prevention, policies, procedures and controls and the importance of all staff complying with them.