Fraud Risk After COVID-19

This course will examine the most likely and anticipated fraud schemes to occur as a result of COVID and how to prevent and detect new and emerging fraud and fraud risk. It will look at the changes in pressure and opportunity for fraud as related to the significant changes being experienced and what organizations should be doing to prepare and deal with increased fraud risk.

LEARNING OBJECTIVES

• What’s changed and why it will provide opportunity for fraud
• What auditors, accountants, fraud examiners should be looking at in their organizations
• What individuals should be concerned about personally
• Things we can all do post COVID-19 to fight fraud

COURSE OUTLINE

The Most Anticipated Fraud Schemes Due to COVID

• Business Email Compromise
• Third-party Schemes
• Government Stimulus Programs
• Charity and Fundraising
• Phishing and Smshing
• Cyberbreaches
• Unemployment

Understanding the Change in Opportunity for Fraud

• Changes to processes and the control environment
• “Short-term” workarounds, exceptions and adaptations
• Reduced oversight and governance
• Changes in supply change, vendor processes

Understanding the Change in Pressure to Commit Fraud

• Change in professional and personal interactions
• Fear – financial, health, job security
• Unrealistic expectations and goals

Fraud Prevention, Detection and Deterrence after COVID

• Anti-fraud programs
• Updating policies, procedures
• Monitoring and reversing short-term exceptions and workarounds

FOR WHOM:

Internal audit and external staff and management, Internal control professionals, Accountants, Operations staff.

TRAINING METHODOLOGY

The training methodology combines lectures, discussions, group exercises and illustrations. Participants will gain both theoretical and practical knowledge of the topics. The emphasis is on the practical application of the topics and as a result participant will go back to the workplace with both the ability and the confidence to apply the techniques learned to their duties.