Fraud Prevention Awareness
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 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 malpractice to Management.
This course takes into consideration the FCA’s new corporate criminal offence of ‘failure to prevent fraud’.
Who is this for?
This course is suitable for front and back-office employees who need to understand what fraud is, why it occurs and how they can help prevent it.
Learning Outcomes
After completing this course, participants will:
- Have a greater knowledge of the extent and nature of fraud and the potential impact on their firm should a fraud occur
- Demonstrate their knowledge of the reasons for firms implementing fraud prevention policies, procedures and controls
- Understand the importance of all staff complying with fraud prevention policies, procedures and controls
Course Details
- 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)
Delivery
Have the flexibility to deliver your In-House training in-person by one of our trainers at your premises, or virtually via Zoom, Teams or Webex.
Find out more about your Virtual or In-Person training experience below.
Virtual Delivery
Our virtual training courses are designed to be every bit as engaging as our in-person courses. To achieve this, our trainers use market-leading technology and a range of training techniques to ensure high levels of interaction with participants. Courses include the use of:
- Virtual ‘break-out’ rooms: participants are divided into virtual rooms to facilitate small group discussion.
- Polling: multiple-choice questions, answered anonymously, allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to highlight the practical application of theoretical knowledge.
- Messaging: participants can submit questions and comments, either to the whole group or privately to the trainer.
Additional Benefits:
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Recording: public course participants have the option to access a recording of the course for one month after the course. In-House clients also have the option to record their training for an additional fee.
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On-going Q&A: public course participants can access an ongoing Q&A facility allowing them to ask questions relating to the course.
In-Person Delivery
Our in-person training is delivered face to face at your offices, and includes:
- ‘In-the-moment’ questions & discussions: questions through conversations allow the trainer to assess knowledge and understanding across the group.
- Case studies: true to life case studies and scenarios are used to explore practical application of theoretical knowledge.
- Q&A: participants can ask questions during training, either to the whole group or privately to the trainer.