Fraud Awareness for Financial Services (Australia)

Description

Annual fraud losses in the Australian financial sector are currently running at well over half a billion dollars. In the Financial Services Industry we typically think of fraud involving customer accounts and loans. But just like any other industry, financial services businesses are also subject to other sorts of fraud, many of which are also covered in this training.

Defending a business against fraud requires staff to be educated on fraud typologies and modalities.

Experience shows that internal fraud (payroll fraud and expense account fraud, accounts payable fraud etc) is more likely to be identified by staff member tip-offs than by auditors or internal procedures.

To defend against external fraud (customer fraud, supplier fraud, loan fraud, ID takeover fraud etc) financial services businesses have sophisticated fraud detection software in operation, but this still needs to be backed up by staff who can spot anomalies before the fraud takes place and who play a role in educating customers on their role in combating fraud.

This course teaches staff

• How to identify and respond to fraud in the workplace
• How to recognize the types of fraud committed by customers and third parties and their role in combating this fraud
• What the consequences of fraud are for both the fraudster and the organisation
• How to prevent fraud from occurring

Who should do this training?

This compliance training is especially suitable for financial services customer-facing staff and staff who work in other fraud risk areas, such as: accounting, operations, sales, executive/upper management, and purchasing.

Course outline

Module 1: Introduction to fraud
Module 2: Internal fraud
Module 3: External fraud
Module 4: Identity fraud Duration
Module 5: Fraud risk management