Fraud Assessment: Getting More Preventive
Training Duration: 2 days
Training Delivery Method: On-site, instructor-led course
There is no prerequisite to attend for this course.
What Problem Does This Training Help Solve?
Typical approaches to fraud have several weaknesses including:
- Excessive emphasis on controls over process understand
- Disconnecting a product or other business process from the fraud prevention approach
- Emphasizes earlier detection (tip lines, fraudster slip-ups and audits) over prevention
- Emphasizes preparing for litigation over prevention
- Lack sufficient understanding of dependencies, especially in technology-related frauds
This outcomes acceleration workshop seeks to overcome these typical weaknesses through a more proactive approach to actually preventing frauds.
Who Should Attend?
Fraud, risk, audit, compliance and GRC professionals.
- Course handouts (printed and/or ppt presentation)
- Reference Materials:
- Preventing Fraud in “Reel” Time, Brian Barnier, RMA Journal, Risk Management Association, 2012
- Why Controls Have Become Wasteful, False Sense of Security, and Dangerously Distracting—and How to Fix it, Taylor & Francis, EDPACS, May 2015
Chapter 2.5, “Improving Product Management and Fraud Prevention,” The Operational Risk Handbook, Brian Barnier, Harriman House, Great Britain, 2011. Available widely or see www.brianbarnier.com
The surveys and studies are in – we’re not doing enough to prevent fraud. Most frauds are still identified through tip lines, law enforcement and other after-the-fact approaches. While prevention has been discussed for years, the needle hasn’t moved much. There is another way. Through analysis of root cause from FBI reports, common problems have been identified. Understanding these causes implies opportunities to reduce risk of fraud. Comparing these causes to well-documented, proven product process analysis methods illustrates a more effective path to both prevent fraud and improve product revenue and reduce business cost. This is music to the ears of any business leader. The challenge is to understand the range of frauds that intersect product processes, how they materialize and what this implies about strengthens and weakness in each phase of the product lifecycle.
Join this workshop to learn more about those processes and how you can use that knowledge to provide more business benefit in your professional work by preventing fraud and a range of other product process problems. During our discussion we’ll also explore typical causes of control failures and the importance of evaluating control approaches with the “4Cs”and specific controls with the “Controls Chain of Fitness.” Most of all, we’ll learn together through a variety of exercises, including the “Fraud Game” Who wants to be the goal keeper?
- Appreciate current limitations in fraud prevention
- Learn to read FBI fraud reports in a new ways, seeing fraud as business product process exploits
- Be introduced to time-tested approaches to business product process analysis
- Learn to apply product process analysis to fraud prevention
Gain insights to teaming with other business professionals to make fraud prevention more efficient and effective