Bank Fraud Prevention Training Course

Why select this training course?

The bank fraud prevention course will deeply examine the existing threatening schemes to the bank as a financial institution and give the required skills and knowledge for proactive identification and prevention. The Bank fraud course is a practical course for the staff which will give the procedure and process to check fraud activities, including money laundering. The course by Rcademy will entail a detailed awareness of fraud management and teach the participants how to identify, detect, and prevent fraud. It will also help them discover what steps to take when fraud occurs. In the current world, every bank must have its fraud department, and therefore, every financial professional must understand how fraud takes place and what to do in case fraud happens. It is also important to establish risk containment units or fraud control units. Only trained professionals in bank fraud prevention can be qualified to work in such special units.

What are the many forms of bank fraud?

Banks have various mechanisms, such as fraud detection software, internal controls, and customer education, to detect and prevent such fraud. However, it’s important for customers to also be aware of these types of fraud and to take steps to protect themselves and their accounts.

The Bank Fraud Prevention Training Course by Rcademy will enable participants to understand how to investigate fraud in detail, from picking up samples in the credit card retail loans applications, investigating income sources, and verifying the addresses, to other aspects of handling money in a bank that involves the customer. They will also learn and acquire the skills to find any suspicious transactions.

Who should attend?

The Bank Fraud Prevention Training Course by Rcademy will be ideal for the following professionals:

• Operational officers
• Bank cyber security officers
• Security analyst
• Bankers
• Branch managers
• Anti-money laundering officers
• Bank fraud investigations officers
• Fraud inspectorates

What are the course objectives?

The Bank Fraud Prevention Training Course by Rcademy has the objectives of enabling participants:

• Understand the fundamental fraud techniques that are threatening financial organizations
• Discover various modern tools and methods to counter fraud
• Understand how to effectively identify, investigate, and prevent fraud
• Apply the knowledge acquired to handling fraud if it occurs
• Be equipped with various standard and internationally accepted best practices in fraud prevention
• Understand different forms of bank fraud
• Understand how to report bank fraud and which channels to use
• Learn how fraud masterminds think
• Identify modern bank fraud schemes
• Discover ways to track suspicious transactions
• Understand how to verify the identity of a user
• Understand how to identify forgeries and fraud
• Discover methods of knowing fake banknotes
• Get the skills to combat cyber fraud
• Understand the current trends in fraud and forgeries

How will this course be presented?

This Rcademy course will be presented by highly trained and professional experts using the following methods:

• Presentations
• Lecture notes
• Short videos
• Class exercises
• Group discussion
• Case studies
• Practical guides

What are the topics covered in this course?

Module 1: Introduction To Bank Fraud

• what is fraud?
• The red flags of fraud
• Are regulators reliable?
• The differences between criminal fraud and civil fraud
• Persistent banks threat
• Understanding conspiracy
• Bank fraud in the present day
• Evolution of fraud analysis
• Quantifying fraud

 Module 2: Fraud In The Financial Statement

• Introduction to financial statement fraud
• Discussions and analysis of regular reports
• Manipulated statements
• Understanding financial statements
• The motivation behind financial statement fraud
• Liabilities and accrued liabilities manipulation
• Fixed assets manipulations
• A most frequent type of financial reporting fraud
• Cash in the Bank manipulations
• Inventory manipulations
• Notes in the financial statement
• Financial statement fraud scope and extent
• Net assets manipulations

 Module 3: Procurement In Banks Fraud Methods

• Schemes in procurement manipulation
• Contract splitting
• Collusive bidding
• Corruption and bribery
• Information theft
• Unnecessary purchases
• Phantom contractors
• Payment fraud
• Product substitutions
• Restricted advertising
• Progress payment fraud

Module 4: Money Laundering

• The koop fraud
• Undisclosed insider beneficial relationships
• Creating and operating undisclosed offshore corporations
• Offshore trusts that are undisclosed
• Fictitious Records to enhance bank fraud
• Understanding money laundering
• Offshore bank accounts
• Money laundering and fraud
• Using fake currencies

Module 5: The Responsibilities Of The Board Of Directors In Safeguarding Banks Against Fraud

• Understanding budgets and approval
• Directors’ duties and responsibilities
• Governance structures
• High-risk activities and suspicious activities
• Roles and Responsibilities of Directors in Practice
• Corporate Law in the European Union
• Common laws and civil law systems
• Fraud diagnostic tools
• Fraud and compliance control

Module 6: The Causes Of Fraud

• Introduction to the causes of fraud
• The underlying fraud dynamics
• The fraud triangle
• The fraud diamond
• Environmental indicators
• Fraudsters motivation
• Who commits fraud?
• How to rationalize fraud

Module 7: Fraud Risk Management

• Bank risk management
• Setting the internal environment
• Handling events identification
• The fraud dimensions
• Setting objectives
• Fraud prevention
• How to effectively detect fraud
• Responding correctly to fraud
• Monitoring fraudulent activities
• Compliance with risk management
• Monitoring information and communications
• Risk appetite
• Understanding enterprise fraud
• Screening fraud red flags
• Prudent strategic planning

Module 8: The Pyramid Schemes And Lack Of Good Governance

• Introduction to the Effects of pyramid schemes on Banks
• Examples of pyramid schemes
  – Bernard Madoff
  – Kubus
  – Charles Ponzi
  – Holiday Magic
• Why pyramid schemes are a concern
• Good governance and governance in general
• Accountability and transparency
• Duties and responsibilities of the customers

Module 9: Other Issues In Bank Fraud

• Credit card fraud
• Check to forge fraud
• Phishing and identity theft
• Internet security fraud
• New account fraud
• Creating fraud prevention program
• Operating a fraud prevention program
• Fraud management
• Maintain a compliant fraud prevention program
• Types of fraud prevention strategies
• Cyber fraud
• Application of IT tools to investigate forgeries and fraud
• Loans credit fraud
• The Evidence Act
• Measures against fraud
• Prevention of crystallization or how to identify forgeries and fraud