Proactive Fraud Prevention Measures

Learn how to defend against fraud and take appropriate steps to respond when fraud occurs.

This presentation examines the many ways organizations--particularly within the corporate sector--can mitigate the risk of fraud. Studies show that occupational fraud schemes account for an estimated 5% in annual revenue loss for organizations worldwide. Although red flags often exist, the absence of strong risk-mitigation strategies allows schemes perpetrated by trusted personnel to escalate into losses of tens--or even hundreds--of thousands of dollars. This program defines fraud and embezzlement, outlines the nature of occupational fraud schemes, and details several risk-mitigation techniques that can be implemented immediately. Participants will gain the ability to identify essential internal controls and understand how modern forensic investigative tools--including data analytics, textual analytics, and sentiment analysis--play a role in detecting indicators of fraud. The session will also address the legal considerations involved in corporate internal investigations, with particular emphasis on independence and the preservation of the attorney-client privilege.