Masterclass in Fraud Investigations
Advanced Forensics and AML program

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Course Overview

Fraud and Corruption is costing corporations and government 5% of revenue or spend, according to the ACFE (Association of Certified Fraud Examiners). This equates to US$4 trillion per year. This is a worldwide epidemic and can only be tackled by effective Fraud Risk Management. The most effective way to manage and combat Fraud is to train fraud fighters and employees in identifying key indicators of fraud and in the latest techniques for identifying, investigation and managing fraud risk. This course will equip you to manage and fight fraud and be a part of the process to reduce the impact on organisations, whilst assisting you in positive career advancement.

Key Takeaways

To be able to return to work and immediately identify key characteristics of fraud and corruption risk.
To be updated on Current Fraud Trends, and the latest investigation techniques and technologies.
A comprehensive Fraud Policy for implementation at your organization.
To involve Corporate Investigators in Fraud Risk Management and Investigations.
An update on Blockchain and Bitcoin Fraud risk.

International Academy of Business and Financial Management
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The International Academy of Business and Financial Management™ is one of the world’s fastest growing professional association with more than 200,000 members, associates and affiliates in 145 countries. IABFM™ hosts and organizes certification training worldwide and offers exclusive board designations to candidates who meet the highest professional standards and assessment criteria. The IABFM is credited by the American National Standards Institute (ANSI) the International Standards setting authority.

Course Outline

Part 1
Redefining and understanding fraud
• 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
Fraud Schemes
• 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
Part 2
Conflict of Interest and Related Party Transactions
• Definition of Conflict of Interest
• Definition of a related party
• Definition of Arm’s Length Dealing
• Guidelines, policies and procedures
• Disclosure requirements
Anti-Money Laundering
• 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
Part 3
• Planning the investigation
• Conducting the Fraud Examination
• Analyzing Documents
• Interview Theory and Application
• Interviewing suspects and signed statements
• Covert examinations
• Sources of information
• Principles and form of evidence
• Fraud risk prioritization
• Data analysis and reporting tools
◦ Use of Computer assisted audit techniques (CAAT’s)
◦ Data mining techniques
◦ Forensic auditing of big data
• Digital forensics
• Tracing illicit transactions
Legal and Ethical Considerations in Fraud Investigations
• Understanding the laws and regulations related to fraud
• Understanding the cultural, social and economic context of fraud and how it can affect the investigation process.
• Rights and responsibilities of fraud investigators
◦ Privacy laws
◦ Rules of professional conduct
◦ Guidelines for conducting investigations
• Documenting and preserving evidence
• The impact of fraud on victims
Part 4
Report writing
• Types of reports
• Structure of the report
• Words to avoid
• Defining the scope and limitations
• Validation of the report
• Finalization of the report
Fraud Prevention and Deterrence
• Understanding criminal behavior
• Understanding White Collar Crime
• Understanding the roles - The Three Lines Model
• Fraud prevention program
• Fraud risk management
◦ Fraud risk governance
◦ Fraud risk assessment-frameworks
◦ Conducting the fraud risk assessment
◦ Addressing Identified fraud risks
◦ Fraud Risk Assessment tools
◦ Fraud control activities
◦ Fraud Risk Management Monitoring Activities
◦ Fraud Risk Management Reporting
◦ Corporate Governance
◦ Code of Conduct

Who Should Attend?

This highly practical and interactive course has been specifically designed for
→ Internal Auditors
→ Risk Managers
→ Fraud Investigators and examiners
→ Financial Managers
→ Corporate Fraud Police
→ Banking employees/managers
→ Security experts
→ Big 4 Accountants and Auditors
→ Lawyers


What language will the course be taught in and what level of English do I need to take part in an LEORON training program?
Most of our public courses are delivered in English language. You need to be proficient in English to be able to fully participate in the workshop and network with other delegates. For in-house courses we have the capability to train in Arabic, Dutch, German and Portuguese.
Are LEORON Public courses certified by an official body/organization?
LEORON Institute partners with 20+ international bodies and associations.We also award continuing professional development credits (CPE/PDUs) for:1. NASBA (National Association of State Boards of Accountancy) 2. Project Management Institute PDUs 3. CISI credits 4. GARP credits 5. HRCI recertification credits 6. SHRM recertification credits
What is the deadline for registering to a public course?
The deadline to register for a public course is 14 days before the course starts. Kindly note that occasionally we do accept late registrations as well, but this needs to be confirmed with the project manager of the training program or with our registration desk that can be reached at +1071 4 1075 5711 or [email protected].
What does the course fee cover?
The course fee covers a premium training experience in a 5-star hotel, learning materials, lunches & refreshments, and for some courses, the certification fee and membership with the accrediting bodies.
Does LEORON give discounts?
Yes, we can provide discounts for group bookings. If you would like to discuss a discount on a corporate level, we will be happy to talk to you.


  • Review:
    Certified Professional in Quality and Patient Safety
    We have been working with LEORON for the past two years and will be working with them again this upcoming year. The programs they delivered were fruitful and exciting and our organization has received positive feedback from the participants. What our organization aims to do is to provide at no cost training for all the private sector employees so that they may benefit from our offered programs in Innovation and Professional development. Leoron has helped us achieve this goal. We look forward to continuing this service and wish them the best of luck. Regards,
    Nasser M. Al-Subaie
    Sr. Program Officer, Enterprise Learning & Human Development at Kuwait Foundation for the Advancemen
  • Review:
    IAMM Internal Audit Maturity Model
    In recognition of their dedication and contribution supporting IKEA Saudi Arabia in arranging training programs during 2017 & 2018, looking forward for more development and exciting effort this year. On behalf of IKEA Saudi Arabia, THANK YOU!
    Dalal Kutbi
    Country Learning & Development Manager at IKEA Saudi Arabia
  • Review:
    Certified Professional in Quality and Patient Safety
    Dating back to 2014, Mobily’s “LEORON” experience has grown from a single collaboration to a long-term partnership. We consider ‘’LEORON” Institute as a strategic partner, whose contribution has been nothing but premium in equipping our staff with field-based knowledge and information. Past three years have resulted with an expanded collaboration with superior customer service and support. Best Regards,
    Turki S. Alsahaan
    Dir L&D, Talent Management at Mobily, Etihad Etisalat Company
  • Review:
    Certified Professional in Quality and Patient Safety
    Since the partnership was signed between BAE Systems Saudi Development & Training and LEORON in 2017, we have been working together to offer the Saudi market a complete portfolio of training solutions benefiting from the wide and extensive experience of both parties. Recognizing the great success of this partnership, we are looking for further collaborations in the future that will position both companies as one of the leading training providers in Saudi Arabia. We thank the LEORON team for their full cooperation and continuing support, and look forward to further success together in the years to come.
    Emad Alrajih
    VP, Business Winning at BAE Systems Saudi Development & Training