Preventing and Detecting Fraudulent Vendor Disbursements

Instructor: John E Grimes
Product ID: 704505
  • Duration: 90 Min

recorded version

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Training CD

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This training program will highlight various disbursement fraud schemes. It will also discuss preventing disbursement fraud by establishing a strong anti-fraud policy and understanding of the human factor.

Why Should You Attend:

Due to the prevailing hazard surrounding fraudulent disbursements, it is imperative that an organization’s accounting department, internal auditors, external auditors, and fraud examiners undertake an ongoing robust, cost effective, review the internal controls over the cash disbursement process. Preventing fraudulent disbursements is the goal with a secondary objective of early detection.

By attending this webinar attendees will learn the various methods that fraudsters employ to commit disbursement fraud. In addition, they will learn how a strong anti-fraud policy, understanding the human factor, and performing established audit techniques will minimize disbursement fraud. Attendees will learn the established audit techniques to prevent and detect disbursement fraud, as well as gain an understanding of the criticality of being a professional skeptic when conducting the audits.

Learning Objectives:

  • Various disbursement fraud schemes.
  • Preventing disbursement fraud by establishing a strong anti-fraud policy and understanding of the human factor.
  • Preventing disbursement fraud by practicing effective disbursement audits.
  • Detecting disbursement fraud by practicing established and effective disbursement audits.

Areas Covered in the Webinar:

  • Various disbursement fraud schemes:
    • Shell companies/fictitious vendors
    • Manipulating vendor list
    • Check diversion
    • Duplicate payments
  • What controls and countermeasures should be in place to prevent and detect disbursement fraud
  • How to prevent disbursement fraud by:
    • Establishing a strong anti-fraud policy
    • Creating an employee awareness program
    • Understanding the human factor
    • Regularly reviewing disbursement policy and procedures for adequacy
  • How to detect disbursement fraud by performing effective disbursement audits

Who Will Benefit:

  • Fraud Examiners
  • Internal Investigators
  • External Auditors
  • Internal Auditors
  • Accounting Department Personnel

Instructor Profile:

John E. Grimes III has over 45 years of progressive law enforcement, criminal investigation, fraud examination, loss prevention, leadership, and teaching experience. He began his career with the Baltimore City Police Department where he became a detective in the Criminal Investigation Division (CID). He left Baltimore and became a special agent with the newly created Amtrak Police Department Fraud and Organized Crime Unit. He was then promoted to captain of the CID. In 1993, Mr. Grimes joined the Amtrak Office of Inspector General/Office of Investigations. He was appointed chief inspector in 1999 and retired from service in 2011. Since his retirement his efforts have focused on education, training, and mentoring. He is an adjunct instructor at Stevenson University teaching graduate level courses in forensic interviewing and fraud examination. He is an advisory committee member for the Center for Forensic Excellence at Stevenson University. He is also on the Stevenson University Forensic Advisory Board.

In addition, Mr. Grimes is the proprietor of Fraud and Loss Prevention Solutions. He developed and taught an introductory loss prevention course for Blue Ridge CC in NC. Additionally, he has been a speaker, presenter, and trainer at many ACFE events, as well as government, private, and professional organizations.

Mr. Grimes is the immediate past president of the Maryland Chapter-ACFE. During his term as president, the Maryland Chapter was the honored recipient of the 2015 ACFE Chapter of the Year Award. He has been a Certified Fraud Examiner since 1997. He is also recognized as a Certified Forensic Interviewer by the Center for Interview Standards and Assessments, Ltd. Mr. Grimes is a member of the Reid Institute and the Loss Prevention Foundation. He was a former staff officer with the United States Coast Guard Auxiliary where he was recognized as an instructor specialist and a marine safety and environmental protection specialist.

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