CFF12 Fraud and Corruption scheme

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About Course

UNIT DESCRIPTION

This paper is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to identify schemes and categories of fraud, the red flags and the preventive and detective measures and procedures related to the various fraud schemes.

 

LEARNING OUTCOMES

A candidate who passes this paper should be able to:

  • Identify fraud schemes in fraudulent and corrupt activities
  • Identify the red flags related to the specific fraud schemes
  • Design and implement preventive and detective controls
  • Identify the universal and specific risks related to the schemes
  • Identify organizational and occupational fraud/corruption

 

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Course Content

Course outline

  • Introduction

1. Fraud/Corruption Schemes
Definition of fraud Definition of corruption Occupational fraud Organisation fraud/crime The fraud tree The red flags/indicators of fraud Current trends of fraud schemes Emerging fraud /corruption schemes

2. Financial Statement Fraud
Definition of Financial Statement Fraud Why Financial Statement fraud is committed The cost of financial statement fraud Types of financial statement fraud schemes Trends in Financial Statement fraud Red flags associated with financial statement fraud Techniques of Detecting financial statement fraud Financial statement analysis Controls related to financial statement fraud

3. Asset Misappropriation
Definition of asset misappropriation Types of asset misappropriation frauds Cash receipts: Skimming, cash larceny and theft of cash on hand Fraudulent disbursements: Register disbursement schemes, check tampering schemes, electronic payment tampering schemes, billing schemes, payroll and expense reimbursement schemes Inventory and other assets: Misuse of inventory and theft Misappropriation of intangible assets Prevention of asset misappropriation schemes

4. Bribery and Corruption
Definition of bribery and corruption Corruption schemes Techniques of detecting bribery /corruption schemes Methods of making corrupt payments Prevention and detection of corruption

5. Theft of Data and Intellectual Property
Definition of theft of data and intellectual property Types of data and intellectual property Ways information is lost or stolen Electronic counter-surveillance Insider threats to propriety information Methods of investigating corporate espionage Programs for safeguarding proprietary information Measures and procedures of minimizing theft of data and intellectual property

6. Identity Theft
Definition of identity theft Perpetrators of identity theft Characteristics of victims of theft Methods of committing identity theft Types of identity theft schemes Ways of stealing information Responding to identity theft Methods of preventing identity theft

7. Contract and Procurement Fraud
Definition of contract and procurement fraud Methods of procurement Stages/phases in procurement process Categories of procurement fraud schemes Preventing and detection of contract and procurement fraud

8. Computer and Internet Fraud/Cyber Crime
Definition of computer and internet fraud Definition of Cyber Crime Types of computer and internet/Cyber fraud: Electronic Commerce and information Security Prevention, detection of computer and internet/Cyber Crime Computer/Cyber Security

9. Financial Institution Fraud
Definition of financial Institution fraud Types of financial institution frauds Prevention and detection of financial institution frauds: Financial Action Task Force and money laundering and Terrorist Basel committee on banking supervision recommendation

10. Payment System Fraud Schemes
Definition of payment system fraud Types of payment system and the fraud schemes Prevention and detection of payment system fraud schemes

11. Insurance and Health Fraud
Definition of insurance fraud Insurance fraud schemes Prevention and detection of insurance fraud Definition of Health care fraud Health care fraud schemes Prevention and detection of health care fraud

12. Consumer Fraud
Investment fraud schemes Telemarketing fraud schemes Confidence games fraud schemes

13. Case Study – Occupational and Organisational Crimes
Identify the asset misappropriation and corruption schemes Identify the health care fraud schemes Identify the red flags Identify the preventive and detective control gaps that were present when the fraud occurred

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