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Fraud in Banking & Finance

Fraud in Banking & Finance

Fraud in Banking & Finance

Nowadays, the banking industry is facing an acute problem of fraud. The problem is global, and no country is fully protected. Fraudsters have become experts in hijacking online sessions: they steal client credentials and use malware to swindle funds from unaware account holders.

Fraud awareness is imperative across all areas of banking and finance with the rapid development of digital technology within the industry. Embedding anti-fraud procedures in the culture of a bank can be a mitigating factor to control the multiple risks presented.

This 4 sessions of live training on each topic will help delegates learn why people commit fraud, how to identify fraud risks in different departments of a bank, establish an anti-fraud culture and ensure fraud awareness in your organization

Learning outcome

  • Understand why fraud occurs in financial markets and what motivates fraudulent behaviors
  • Be aware of the main types of fraud methodology and emerging risks
  • Learn how to prevent these frauds by using effective mitigation techniques
  • Be familiar with the key methods used to manage fraud risk and detect fraud events

Target Audience

  • All the employees working in the fraud division of banks and finance sector
  • Managers and heads in organizations in the banking sector who need to understand fraud management
  • Bankers and other executives involved in any transactional or operational function in banks
  • Legal and financial advisors who can help combat fraud or provide expert advice in the event of fraud
  • Potential shareholders who should understand the prospect of fraud in a financial institution
  • Auditors who need to ensure adherence to required guidelines and universal standards
  • Any other professional interested in understanding frauds in the banking sector in detail

Fraud and types of fraud in banks

  • Motives behind financial fraud: Fraud triangle
  • Understanding Human Behavior and the decision to steal
  • Behavioral Red Flags of Perpetrators

Fraud in Cards

Fraud Techniques in cards

  • Stolen or lost cards Fraud
  • Account takeover Fraud
  • Phishing Fraud
  • Skimming Fraud
  • Card not present (CNP) Fraud
  • Fraudulent cards applications
  • Data Breaches Fraud
  • Counterfeit credit cards
  • Mail non-receipt card Fraud
  • Assumed Identity Fraud
  • Oversharing
  • Social engineering
  • Credit cards fraud prevention

 

Fraud in Investment Banking

Investment & Securities Fraud Techniques:

  • Affinity Fraud
  • Advance Fee Fraud
  • Binary Options Fraud
  • High Yield Investment Programs
  • Internet and Social Media Fraud
  • Microcap Fraud
  • Ponzi Scheme
  • Pre-IPO Investment Scams
  • Pyramid Schemes
  • “Prime Bank” Investments
  • Promissory Notes
  • Pump and Dump Schemes
  • Commodity Pool Fraud
  • Foreign Currency Trading Fraud
  • Precious Metals Fraud
  • Investment & securities Fraud Prevention

Fraud in Treasury

Fraud in treasury Techniques:

  • Payment Fraud
  • Business Email Compromise ( BEC)
  • Email Account Compromise ( EAC)
  • Ransomware
  • Cyber Theft / Data Breaches
  • Swift Fraud
  • Internal Fraud
  • Evolving attack vectors
  • Best Practices in Managing the risk

 

Fraud in Trade Finance

Trade Finance Fraud Techniques:

  • Financial crime risks in Trade Finance
  • The bank approach to risk assessment
  • Mitigating and controlling risks
  • Risk assessment
  • Policies and procedures
  • Due diligence
  • Training & awareness
  • AML Compliance
  • Trade-based money laundering scenarios
  • Red flags
  • Trade Finance Fraud Prevention

Benefits of a Good Fraud Management System in Banking & Finance

Fee Per Participant

USD 1500/-

Fees + VAT is applicable

Dates & Times

September 2020:

13th – 16th

Language: English

Time:

10:00 – 13:00 (UAE)

9:00 – 12:00 (KSA)

Overview

Nowadays, the banking industry is facing an acute problem of fraud. The problem is global, and no country is fully protected. Fraudsters have become experts in hijacking online sessions: they steal client credentials and use malware to swindle funds from unaware account holders.

Fraud awareness is imperative across all areas of banking and finance with the rapid development of digital technology within the industry. Embedding anti-fraud procedures in the culture of a bank can be a mitigating factor to control the multiple risks presented.

This 4 sessions of live training on each topic will help delegates learn why people commit fraud, how to identify fraud risks in different departments of a bank, establish an anti-fraud culture and ensure fraud awareness in your organization

Learning outcome

  • Understand why fraud occurs in financial markets and what motivates fraudulent behaviors
  • Be aware of the main types of fraud methodology and emerging risks
  • Learn how to prevent these frauds by using effective mitigation techniques
  • Be familiar with the key methods used to manage fraud risk and detect fraud events

Target Audience

  • All the employees working in the fraud division of banks and finance sector
  • Managers and heads in organizations in the banking sector who need to understand fraud management
  • Bankers and other executives involved in any transactional or operational function in banks
  • Legal and financial advisors who can help combat fraud or provide expert advice in the event of fraud
  • Potential shareholders who should understand the prospect of fraud in a financial institution
  • Auditors who need to ensure adherence to required guidelines and universal standards
  • Any other professional interested in understanding frauds in the banking sector in detail
Course Outline

Fraud and types of fraud in banks

  • Motives behind financial fraud: Fraud triangle
  • Understanding Human Behavior and the decision to steal
  • Behavioral Red Flags of Perpetrators

Fraud in Cards

Fraud Techniques in cards

  • Stolen or lost cards Fraud
  • Account takeover Fraud
  • Phishing Fraud
  • Skimming Fraud
  • Card not present (CNP) Fraud
  • Fraudulent cards applications
  • Data Breaches Fraud
  • Counterfeit credit cards
  • Mail non-receipt card Fraud
  • Assumed Identity Fraud
  • Oversharing
  • Social engineering
  • Credit cards fraud prevention

 

Fraud in Investment Banking

Investment & Securities Fraud Techniques:

  • Affinity Fraud
  • Advance Fee Fraud
  • Binary Options Fraud
  • High Yield Investment Programs
  • Internet and Social Media Fraud
  • Microcap Fraud
  • Ponzi Scheme
  • Pre-IPO Investment Scams
  • Pyramid Schemes
  • “Prime Bank” Investments
  • Promissory Notes
  • Pump and Dump Schemes
  • Commodity Pool Fraud
  • Foreign Currency Trading Fraud
  • Precious Metals Fraud
  • Investment & securities Fraud Prevention

Fraud in Treasury

Fraud in treasury Techniques:

  • Payment Fraud
  • Business Email Compromise ( BEC)
  • Email Account Compromise ( EAC)
  • Ransomware
  • Cyber Theft / Data Breaches
  • Swift Fraud
  • Internal Fraud
  • Evolving attack vectors
  • Best Practices in Managing the risk

 

Fraud in Trade Finance

Trade Finance Fraud Techniques:

  • Financial crime risks in Trade Finance
  • The bank approach to risk assessment
  • Mitigating and controlling risks
  • Risk assessment
  • Policies and procedures
  • Due diligence
  • Training & awareness
  • AML Compliance
  • Trade-based money laundering scenarios
  • Red flags
  • Trade Finance Fraud Prevention

Benefits of a Good Fraud Management System in Banking & Finance

Schedule & Fees

Fee Per Participant

USD 1500/-

Fees + VAT is applicable

Dates & Times

September 2020:

13th – 16th

Language: English

Time:

10:00 – 13:00 (UAE)

9:00 – 12:00 (KSA)