MFI™

Masterclass in Fraud Investigations

Advanced Forensics and AML program

• Dissecting the definition of fraud
• Fraud Triangle and Diamond
• Fraud Profiling
• Who are the fraudsters – internal and external
• ACFE Report to the Nation
• Fraud cases - studies and the key lessons

• Financial Statement Fraud
◦ Different schemes
◦ Key indicators in financial statements analysis
◦ Key indicators through Ratio Analysis
• Fraudulent non-financial reporting
• Asset Misappropriation
◦ Cash receipts
◦ Fraudulent disbursements
◦ Inventory and other assets
• Bribery and corruption
• Theft of Data and intellectual property
• Identity Theft
◦ Social Engineering & Identity Fraud
▪ Social engineering techniques
▪ The psychology of persuasion
▪ Types of targets for impersonation
• Financial institution fraud
• Payment fraud
• Insurance fraud
• Health care fraud
• Consumer fraud
• Computer and internet fraud
• Contract and procurement fraud

• Definition of Conflict of Interest
• Definition of a related party
• Definition of Arm’s Length Dealing
• Guidelines, policies and procedures
• Disclosure requirements

• Money Laundering Process
◦ Placement
◦ Layering
◦ Integration
• Money Laundering Methods
◦ Front Businesses
◦ Overstating reported revenues and expenses
◦ Depositing and not recording revenue
◦ Favorite businesses for hiding money

• Why do controls fail to protect an organization from fraud
• Thinking like a fraudster
• Key fraud indicators – and how to use them
• Developing a forensic audit toolkit
• Cost-effective balance between prevention and detection
• Identifying vulnerabilities
• Hotlines, Notification Systems and Whistleblower protection
◦ The importance of a good whistleblowing system
◦ Why Whistleblowing system fail
◦ Inside the mind of a whistleblowers
◦ Implementation of a good whistleblowing system