Fraud continues to plague businesses of all sizes! In fact, many estimates peg the annual losses associated with fraud at 5% to 10% of total business revenues. Given these numbers, it's clear that traditional approaches to preventing and detecting fraud are not working as well as intended and that better, more effective controls are
necessary to stem the tide of fraud that exists today. To that end, you should make plans to join us in this highly informative session so that you will be prepared better to reduce the risk of fraud in your own organization or to assist clients in doing the same.
In this session, you will learn about where your fraud risks really are, and how you can implement effective controls to reduce these risks to prudently-acceptable levels. You will learn from real-world examples and case studies that help you to understand the mindset of those who are committing fraud, and the common characteristics of fraudulent transactions and activities. You will also learn how you can analyze your data to identify potential instances of fraud quickly and effectively. In sum, if you want to recover profits lost through fraudulent activities, you cannot afford to miss this session.
- The pervasiveness of fraud and how common frauds are committed
- Exploring the mindset of today's bad actors
- Improving internal controls to reduce fraud
- Analyzing data using Benford's Law and other techniques to identify fraudulent activities
Upon successful completion of this course, participants will be able to:
- List the major types of frauds being committed today and the related losses associated with these activities
- Evaluate anti-fraud internal controls for effectiveness
- Create analyses to identify transactions that possess known fraud characteristics
- Utilize Benford's Law to identify potential instances of fraudulent activities
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