Fraud is defined as the intentional false representation or concealment of a material fact for the purpose of inducing another to act upon it to his or her injury (as defined by the American Institute of Certified Public Accountants). Banks, retail, medical, government, non-profit and insurance are just a few of the industries that experience fraud daily in one way or another. Financial crime is continuously evolving. At any given moment, persons in all parts of the world are conceiving new illegal ways to take money or gain economic advantage from organizations and individual victims.
For financial institutions, government agencies and the like, fraud is not only a constant headache but a significant operational risk. It creates financial losses and reputation harm which can last for years. Fighting fraud is now an escalating war. Even agencies with the most advanced tools and procedures to detect and prevent fraud sometimes feel like they are lagging behind.
Major Topics Covered :
- Definition of fraud
- The fraud triangle
- Elements of fraud
- History of fraud
This course is designed for individuals who would like to obtain a basic understanding of fraud. We will discuss various types of frauds and how the criminals commit the frauds. We will review some of the legal and ethical implications involved.
Examples of real world cases will be provided to help develop and understanding of the risks involved. Participants will be introduced to the fraud triangle and the elements of fraud. We will discuss the history of fraud as it relates to the accounting profession.
