Be Alert! Stay Ahead!

In the current harsh economic climate, one of the increased risks organisations face is that of employee fraud. According to the latest “Report to the Nations” done in 2018 by the Association of Certified Fraud Examiners (ACFE), the median loss from fraud was $130,000 per case and the median duration was 16 months. And, according to the report, fraud occurrence is relatively similar across geographical regions and industry sectors, such as Government, corporate and not-for-profit.

In harsh economic conditions, however, fraud incidents will increase simply because the motivation is much stronger. Simply put, if a family’s income has decreased, while the expenses are still the same, an employee will be more tempted to commit fraud than in “normal” times.

In this situation Government, corporate and the not-for-profit sectors need to act swiftly and be prepared, to detect early and minimise fraud occurrences across the organisation.

In this session we will:

• start with reviewing and analyzing the types of fraud, the impact of fraud within organisations and the most common controls applied to fraud detection and prevention, according to ACFE;
• we will then look at the three major components of fraud, the Fraud Triangle, and how they can help in fraud prevention;
• at the end of the session, we will look at practical ways to detect and prevent fraud at an early stage.

During the session, attendees will participate in polls and scenario work. This will allow for a better understanding of the situation and for better knowledge sharing among professionals from various regions and industries.

Intended Audience

This program is suitable for the following professionals:

Program Duration

60 minutes

Class Size

Maximum 90 attendees

Delivery Location

Online