Specialized Knw and Apps
There are no prerequisites.

Course Description

Our desire to build wealth can often make us vulnerable to con artists and investment schemes. In this informative course, Romney identifies and explains common investment schemes using interesting examples and case studies. He offers excellent ideas for detecting fraud before your hard-earned cash - or your clients' - winds up in someone else's pocket. This course takes an in-depth look at many different types of fraud, including: 

  • Ponzi schemes
  • Advance fee fraud
  • Prime bank and promissory note fraud
  • Advisor, penny stock, and insider trading fraud
  • Real estate fraud
  • Affinity, check, and refund fraud
  • Identity theft


Marshall Romney, CPA, PhD, CFE

Marshall Romney, CPA, PhD, CFE, is the John and Nancy Hardy Professor of Accounting and Information Systems in the Marriott School of Management at Brigham Young University (BYU). He holds a bachelor's and a master's degree from BYU. Upon graduation, Marshall worked as an auditor with Touche Ross & Co. in Los Angeles. Marshall left public accounting to earn a PhD in accounting from the University of Texas at Austin. At Texas, Marshall was twice awarded the Arthur Andersen Accounting Excellence Award and was awarded a dissertation grant from R. D. Irwin.

Marshall has published 25 books, including the leading text on accounting information systems. He also has had over 100 articles published in academic and professional journals or as book chapters. Several of the articles have been nominated for and won the journal’s article of the year award. He is the recipient of eight research grants from CPA firms, the Institute of Internal Auditors, and the American Accounting Association. He has made almost 70 presentations at academic and professional conferences. He has been on the editorial board of 10 academic and professional journals and has served as a reviewer for 7 others. He has developed 12 CPE courses, including self-study courses for Western CPE, and has taught for or consulted with over 60 different organizations.

Marshall is a past president of the Information Systems section of the AAA. He was a member of both the Information Technology Executive Committee and the IT Practices Subcommittee of the AICPA. He was the chairman of the Information Technology Committee for the Utah Association of CPAs, who presented him with the outstanding chairperson award. He has served on numerous other committees for the AICPA, AAA, UACPA, and the IIA. He was an advisor to the National Commission on Fraudulent Financial Reporting.

At BYU, Marshall is the chair of the Information Systems Department and is the director of both the graduate and undergraduate Information Systems programs. He has also served on the University’s Faculty Advisory Council, the MSM Executive Committee, the MSM Evaluation Committee, and numerous department committees.

Course Specifics

Specialized Knw and Apps
Jun 5, 2017
There are no prerequisites.

Compliance Information

Qualifies for CA Fraud: No

Learning Objectives

Upon successful completion of this course, participants will be able to:

Chapter 1 

  • Recognize the concept of investment fraud, its key characteristics, and statistical data that demonstrates the prevalence of fraud.
  • Identify the basic types of investment fraud, the role of swindlers and victims in fraud, how swindlers develop fraud schemes, how people are victimized by fraud, and the avenues that swindlers use to find victims.
  • Recognize how to detect fraud, who can help investigate fraud, and ways to protect your own investments using a real-life fraud case.

Chapter 2 

  • Identify the key characteristics, history, and functionality of Ponzi and pyramid schemes.
  • Recognize the setup, roles of participants, and outcomes of real life cases of Ponzi and pyramid fraud.

Chapter 3 

  • Identify the major types, characteristics, and victims of advance fee frauds including Nigerian 419, loan and credit card scams, credit repair frauds, and financial aid and scholarship scams.
  • Recognize how advance fee frauds are perpetrated and how they can be recognized and avoided.

Chapter 4 

  • Identify the history and key characteristics of prime bank and promissory note fraud.
  • Using case studies and examples of real life prime bank and promissory note fraud, recognize the roles of perpetrators and victims, ways that scammers execute the fraudulent schemes, and how investors can protect themselves from prime bank and promissory note fraud.

Chapter 5 

  • Identify fair practice rules, and the characteristics of various types of adviser, penny stock, and insider trading frauds.
  • Recognize how investors can detect and avoid these types of frauds.

Chapter 6 

  • Identify the various types and key characteristics of real estate fraud, including mortgage and foreclosure fraud.
  • Recognize methods to detect and avoid being party to real estate fraud.

Chapter 7

  • Recognize the concepts and characteristics of affinity, check, and refund fraud.
  • Recognize the prevalence, practice, and prevention of affinity, check, and refund fraud.

Chapter 8 

  • Recognize the various forms of identity theft, their characteristics, and how they are perpetrated by citing actual cases.
  • Identify methods of protecting yourself if you become a victim.

Choose Your Preferred Format

Online Access

Get immediate access to a robust collection of learning and reference materials, allowing you to dive deep into the information you need. Our self-study materials are authored by top-quality, industry experts who focus on helping you grasp concepts quickly using real-life examples. Download your CPE to any device, and take it with you so you can learn when and wherever you want. Complete your CPE with an online exam, and enjoy instant grading with the option to print your certificate immediately upon passing.

online access
Hard Copy

Our self-study materials are authored by top-quality, industry experts. You’ll receive a bound notebook of all the course materials, shipped to you within one business day. In addition, you’ll also have full online access. Each self-study package includes a robust collection of learning and reference materials to help you cover the information efficiently and put it into practice immediately.

hard copy
Self-Study Video

Experience high-quality instruction with our Self-Study Videos, available to you 24/7. With more than 80+ videos currently in the Western CPE Self-Study Video library, you can see and hear our expert instructors deliver the information you need in a dynamic way that allows you to immediately apply your learning. Unlike a live course or webcast, you can complete the course on your own time, playing and pausing as needed. Self-Study Videos allow you to complete your CPE requirements on your own time.

hard copy

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