How to Prepare and Implement a Fraud Response Plan

Why Should You Attend:

It is obviously preferable to prevent fraud than to respond to it. However, no matter how effective an organization’s internal controls, statistics show that being victimized by fraud at some point is inevitable.

That being the case, it is essential for all organizations to have in place a carefully planned and readily executable fraud response plan. The objective of such a plan is of course to minimize damage from the fraud. But too many organizations make the mistake of limiting their response plans to minimizing financial losses only. They forget that reputational damage from fraud can be equally if not more harmful than financial misappropriation. It is also important to know when to launch a full-fledged and potentially costly fraud investigation and when not to. The line is not always clear, especially if a specific manager has not been assigned responsibility for incident response.

This webinar will help to clarify the pros and cons of initiating an investigation, implementing loss recovery measures, taking legal action against suspected perpetrator(s) and implementing controls to prevent similar incidents from occurring again.

Learning Objectives:

By attending this webinar, participants will be able to:

• Determine the appropriate response to different types of fraud
• Know when to launch a fraud investigation and when not to
• Put together a highly effective fraud response team
• Formulate a customized fraud response plan
• Determine when to involve law enforcement and when not to
• Know how to be prepared with computer forensic tools/techniques
• Know how to be prepared to conduct E-Discovery and forensic data analytics
• Plan for “damage control”—using public relations and other communications resources to avoid unnecessary reputational and financial impact of a fraud

Areas Covered in the Webinar:

• Statistical overview of the “fraud problem”
• Case studies of fraud responses—good and not so good
• Who should be part of your fraud response team
• Who should be responsible for overall fraud response
• Investigation dos and don’ts
• Evidence collection and protection essentials
• Creating a highly effective investigation team
• Forensic tools: Data analysis, E-discovery, digital/computer forensics

Who will Benefit:

• Internal auditors
• External auditors
• Accounting staff
• Internal control management
• Risk managers
• Fraud examiners
• Legal counsel
• Security managers
• Compliance managers

Instructor Profile:

Peter Goldmann, has 25 years of experience as a business journalist and trainer, having launched, edited and published numerous business trade periodicals covering small business, international trade, management strategy, banking and personal finance. He is a Certified Fraud Examiner (CFE) and a member of the Editorial Advisory Committee of the Association of Certified Fraud Examiners (ACFE) as well as an active member of the Institute of Internal Auditors, the High-Tech Crime Investigation Association and the IOFM Controller Certification Advisory Board. He is a regular columnist for the ACFE’s newsletter, The Fraud Examiner and is a frequent contributor to other leading industry publications on anti-fraud topics. He has appeared on Fox Business News, The Wall Street Journal This Morning, The New York Times and Internal Auditor magazine.

He is president of White-Collar Crime 101 LLC, the publisher of White-Collar Crime Fighter, a widely read monthly newsletter for internal auditors, controllers, corporate counsel, financial operations managers and fraud investigators. Peter is the author of Fraud in the Markets: Why it Happens and How to Fight It, published by John Wiley & Sons, as well as four other anti-fraud books. Peter also developed FraudAware, the leading fraud awareness training program. A user-friendly learning tool, FraudAware uses workshop, Webinar and E-Learning formats to educate employees and managers at all levels in how to detect, prevent and report incidents of fraud or suspicious conduct.

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