Tips in Fraud Prevention
The government can only estimate that £15 billion is being lost to Corporate Fraud of varying kinds:
The North East Fraud Forum carried out a survey in 2005 using its member organisations and companies from the FTSE 100 & 250. The result was startling, revealing a £32 billion loss with a quarter £8 billion actually being spent on Fraud preventative measures.
How Can you Help Prevent Fraud in Your Business
Be conscious that a high proportion of committed Fraud is done by the employee. Just because they work for you does not mean that they wouldn’t take advantage.
- Have in place an anti fraud policy which is easy to understand and circulated amongst all employees. Create a robust anti fraud culture.
- Have in your organisation a nominated team responsible for all fraud issues.
- Promote systems within your organisation to detect fraud.
- Adopt appropriate risk controls and have in readiness a fraud response plan.
- Consider fraud as a business risk, take it seriously. Focus on prevention.
- Provide fraud awareness training for all employees. Ensure an alertness to the indicators of fraud.
- Install an effective ‘whistle blowing’ policy and reward efficiency and reduction in losses.
- Do not recruit Fraudsters in the first place, know your customers / clients / employees.
- Involve and seek advice in the first instance from Tait Walker’s Fraud Consultant / Forensic Team from the outset or detection of fraud.
- Don’t panic. Help is at hand.
Forensic Services Department – Training Programmes
Tait Walker Chartered Accountants Forensic Services Department offer a number of training courses to both the Public and Private sectors in forensic and other subject areas. These courses are tailored to the needs of the individual client and can be delivered at our offices in Newcastle-Upon-Tyne, ‘in-house’ or at any venue of the client’s choice.
Our staff draw on many years of experience in various areas of law enforcement and all have appropriate teaching qualifications as well as formal academic professional certification in their different fields of expertise. We have successfully delivered training to a number of large and small businesses throughout the U.K.
The training programme listed below is only an example of what Tait Walker can offer. The duration, content and entry level requirements are flexible or designed to meet the demands of delegates attending and the desired learning outcomes.
If you wish to enquire further about any of these courses or any other areas of bespoke training, please do not hesitate to contact Frank Nesbitt on forensic-training@taitwalker.co.uk or 0191 285 0321. The Forensic Service team will be happy to provide you with fuller details of our training packages. Tait Walker welcomes comparison on cost effectiveness with other similar providers.
Fraud Awareness Workshop- Course ref. TW/001
Designed for management and staff engaged or working in those areas of business recognised or identified as having fraud risk.
Includes: Overview of fraud; how fraud impacts upon business? Fraud response plans, fraud indicators, general fraud awareness, types of fraud.
Course duration: 1 Day
Fraud Investigative Workshop- Course ref. TW/002
A Workshop designed for in-house /investigators/internal auditors/HR staff/or management, responsible for tackling fraud or employed in an otherwise investigative roll that requires these skills to effectively and sensitively deal with all issues of internal, external or collusive fraud.
Includes: Sources of law, fraud law exhibit handling, statement taking, forensic examination methods, evidence and file management.
Course duration: 1 Day
Fraud Risk Management- Course ref TW/003
Designed to give an insight and understanding to managing the risks of fraud. Aimed at all employees taking a strategic approach to tackling fraud.
Includes: Assessing the scale of fraud threat, understanding the types of fraud risk focusing resources on effective anti-fraud measures, assigning responsibilities.
Course duration: Half Day
Anti Money Laundering- Course ref TW/004
Designed for staff employed within the regulated sector under the Money Laundering Regulations 2007.
Includes everything required by law to make staff aware of and understand the legislation under part 7 of the Proceeds of Crime Act, Money Laundering Regulations and Terrorism Legislation.
Course duration: Half Day
Money Laundering Awareness- Course ref TW/005
Designed for staff employed in areas of business within the regulated sector at lower risk of being confronted by the problem but in need of a basic understanding of the risks involved.
Course duration: 2 Hours
Anti Money Laundering- Course ref TW/006
Designed for Money Laundering reporting officers, nominated officers and other staff who are involved on a more regular basis in identifying and reporting suspicious activity.
Course duration: 1 Day
Courtroom Skills/Witness Familiarisation- Course ref TW/007
Designed for employees who are likely to attend court as part of their role. This interactive course introduces participants to assorted courtroom techniques and familiarises them with court layout and practice and encourages them to produce effective and professional courtroom delivery.
Course duration: 1 Day
Exhibits Handling- Course ref TW/008
Designed for employees who are tasked with recording, storing and managing evidence which involves business crime. It also provides guidance on procedures used in handling, recording and storage of property recovered during an enquiry.
Course duration: 1 Day
Data Protection/Human Rights- Course ref TW/009
Designed for employees who encounter and have to deal with these important pieces of legislation in the course of their work. It ensures that staff are aware of the requirements placed upon themselves and the business.
Course duration: Half Day
Intelligence/Data Mining Awareness- Course ref TW/010
Designed for employees who are involved in fraud analysis, internal audit, risk management, investigations and finance. The course will examine and develop practical solutions to risk using data mining techniques.
Course duration: Half Day
National Intelligence Model- Course ref TW/011
An examination of the NIM and how it can be applied in business and public authorities to ensure the avoidance of litigation, and result in improvements in efficiency.
Course duration: Half Day
Insolvency- Course ref TW/012
These courses are designed to give staff an overview of everything from IVAs and bankruptcy all the way through to corporate insolvency.
Course duration: Half Day
Forensic Accounting- Course ref TW/014
Designed to give an introduction and overview of forensic accounting and includes case studies into this subject which is an invaluable tool in investigative work.
Course duration: Half Day
Mentoring- Course ref TW/015
Designed to provide the learner with an introduction to the role of mentoring and its effective use in individual development.
Many companies now recognise that using a mentoring scheme is an extremely cost effective way of introducing new employees to the workplace.
Course duration: Half Day
Investigative Interview Skills- Course ref TW/016
Designed for staff employed in an investigative roll, who need to deal with issues effectively and sensitively. From internal fraud to criminal activity or disciplinary matters. Includes input on effective statement writing.
Course duration: 1 Day
Computer Forensics- Course ref TW/017
Computer misuse by employees can create a financial loss, loss of personal or client detail or allow infection from computer viruses.
Includes: Introduction to computer forensics, practical measures to prevent computer misuse in the workplace, recovery of information, secure access without compromise of network security, crime screens and Prevention of evidence tampering.
Course duration – Half Day
Internet Fraud- Course ref TW/018
Computers are targeted daily by fraudsters seeking entry to network or individual stand alone systems and their respective operating personnel.
Includes: An overview of fraud on the internet; Explanation to “Phishing”; “Pharming”; “Trojans”; “Spyware” and “Spam”. The answers to prevention of social engineering and online banking frauds.
Course duration – 2 hours
Electronic Fraud- Course ref TW/019
Designed specifically for business that utilise the internet or other communication media to carry out financial decision or transaction.
Includes: Internet dealing, telephone transactions and account establishment. E-mail and debit mandate fraud, fraud across the internet, credit/debit card fraud, call centre integrity and caller identity procedures.
Course duration Half/1 Day.
Regulation of Investigatory Powers (RIPA)- Course ref TW/20
Designed for staff from all public authorities including Chief Executives, other heads of departments, staff from trading standards, housing benefit fraud, internal audit and environmental health. This course gives an overview of the legislation and how it applies when conducting surveillance or in the use of covert human intelligence sources (CHIS).
Course duration: Half Day
Regulation of Investigatory Powers (RIPA)- Course ref TW/21
Designed for managers who take the role of Authorising Officer and staff who are involved in surveillance or the use of covert human intelligence sources on a regular basis. This course gives a deeper insight into the requirements of RIPA and the application of the principles of necessity, proportionality and collateral intrusion, giving practical advice on the completion of RIPA documentation and the role of the commissioners.
Course Duration: 1 Day