Vendor Fraud – How To Protect Against the Growing Threat

  • Product Id : FN2353
  • Category : , , , , ,
  • Presenter :
  • Scheduled On : October 02 2019 1:00 pm
  • Duration : 90 Minutes

This training on detecting and preventing vendor fraud will help the attendees to identify the different types of vendor-related fraud schemes and implement best practice anti-fraud control strategies.

Why Should You Attend:

Billing schemes are the most common type of external fraud schemes threatening most organizations.

Participants will learn how to identify varieties of vendor-related fraud schemes damaging organizations of all kinds, including small businesses and non-profits, and determine how shrewd fraudsters abuse the payment process to embezzle funds for years before being detected—and how to shorten the time before discovery.

This webinar will guide you through each of the critical steps, leaving you with practical “how-to” guidance for minimizing your organization’s exposure to the large and growing variety of vendor schemes and collusive frauds.

This webinar will enable participants to quickly recognize the red flags of external as well as internal vendor fraud in your operations and financial records and will assist in providing cost-effective anti-fraud controls to protect against the growing army of real and phony vendor fraudsters.

Learning Objectives:

Participants will be able to:

  • Conduct a quick and cost-effective fraud risk assessment for your payments/vendor operations
  • Implement effective vendor/billing fraud detection techniques and build audit practices to detect red flags of common schemes.
  • Implement best-practice anti-fraud control strategies for vendor fraud
  • Advise management on fraud risk mitigation through transaction monitoring, technology/information technology tools and low-cost internal controls
  • Recommend better anti-fraud management structure (Board of Directors/Executive Management, Line Management, Compliance, General Counsel, etc.)

FN2353

Peter Goldmann

Peter Goldmann – CFE, is president of White-Collar Crime 101 LLC, the publisher of White-Collar Crime Fighter,a widely read monthly newsletter for internal auditors, controllers, corporate counsel, financial operations managers and fraud investigators. The newsletter is in its 15th year of publication under Peter’s leadership.

Peter is the author of Fraud in the Markets: Why it Happens and How to Fight It, published by John Wiley & Sons, as well as four other anti-fraud books. Peter also developed FraudAware, the leading fraud awareness training program. A user-friendly learning tool, FraudAware uses seminar, Webinar and E-Learning formats to train employees and managers at all levels in how to detect, prevent and report incidents of fraud or suspicious conduct.

Peter has 25 years of experience as a business journalist and trainer, having launched, edited and published numerous business trade periodicals covering small business, international trade, management strategy, banking and personal finance. He is a Certified Fraud Examiner (CFE) and a member of the Editorial Advisory Committee of the Association of Certified Fraud Examiners (ACFE) as well as an active member of the International Association of Financial Crime Investigators and the IOFM Controller Certification Advisory Board. In addition, Peter has conducted numerous on-site fraud detection and prevention workshops for internal auditors, attorneys, HR executives and compliance officers at Fortune 500 companies and large not-for-profit organizations. He has also been a guest lecturer for college accounting and auditing courses. Peter holds a Bachelor’s degree from the University of Michigan and a Master’s from the London School of Economics.

  • Introduction
    • Statistical overview of the fraud problem
    • Who commits vendor fraud
    • Lessons from fraudsters
  • Common Types of Vendor Fraud Today
    • Billing fraud schemes
    • Shell company schemes
    • Vendor master file schemes
    • Double billing schemes
    • Internal manipulation of vendor master file
    • Internal perpetration of shell company/pass-through vendor schemes
    • Kickbacks/bribery
    • Conflicts of interest
  • Red Flags of Vendor Fraud
    • Conducting a fraud risk assessment and recognizing the red flags of vendor and collusive fraud
    • The fraud risk mitigation cycle
    • Implementing an organization-wide system for detecting, preventing and investigating fraud
  • Fraud Detection
    • How vendor frauds are most often detected
    • Additional general detection methods
    • Data mining/analytics for fraud detection
    • Examples of fraud audit techniques at work
  • Anti-fraud Controls for Vendor Fraud
    • Internal controls and other fraud prevention measures
    • Who should manage anti-fraud activities for AP
    • Internal controls: Dos and Don’ts
    • General controls: Segregation of duties, delegation of authority, background investigation
    • Specific AP Operations-level controls for foiling vendor schemes.
  • Internal and external audit professionals
  • Purchasing/procurement managers and staff
  • Accounting and audit practitioners
  • AP managers
  • Senior financial management seeking to reduce their vulnerability to costly frauds
  • Compliance and ethics managers
  • CFO’s/senior financial managers
  • Security personnel

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  • Login Information with Password to join the session, 24 hours prior to the webinar
  • Presentation Handout in .pdf format
  • Presentation from the Speaker
  • Feedback form
  • Certificate of Attendance
  • Recording access Information with Password to view the webinar, will be sent 24 hours after the completion of the Live webinar.
  • Presentation Handout in .pdf format
  • Certificate of Attendance
.