Akaz Capital for Training and Consulting

Schedules Introduction Objectives Training Methodology Organisational Impact Personal Impact Who Should Attend? Outline

Home / Fraud & Financial Audit / Anti-Money Laundering (AML) Compliance Masterclass

Course Schedule

Classroom Sessions:

Date	Venue
18-14 Jul 2025	London
29 Sep - 03 Oct 2025	Dubai
26-22 Dec 2025	London

Online Sessions:

Date	Venue
26-22 Dec 2025	Online

Introduction

INTRODUCTION

Fraud is a growing threat that continues to impact the global economy, costing an estimated $3 trillion in 2018 alone. Would you recognize if fraud was happening in your organization right now? Do you know the major fraud risks your business faces, or have a defined fraud prevention strategy? If your organization lacks a formal fraud prevention program or automated detection techniques, you are not alone. Many organizations struggle to combat fraud effectively due to the absence of structured approaches for prevention, detection, and investigation. Without a clear strategy, businesses are left vulnerable to financial losses, reputational damage, and legal consequences.

Our Fraud Prevention, Detection, and Investigation Training Course is designed to equip you with the essential knowledge and tools to tackle these challenges head-on. This fraud prevention and detection training course provides insight into identifying fraud risks, implementing prevention strategies, and managing investigations when fraud is suspected. You will learn to use automated detection techniques and develop a robust, proactive approach to fraud management. Don’t leave your organization exposed — take the first step towards securing your business by ensuring you have a comprehensive fraud prevention plan in place

This Fraud Prevention, Detection and Investigation training course will help you to:

Evaluate the likely frequency of cost of fraud in your organisation
Develop a world-class fraud prevention programme
Assess fraud scenarios by means of actual fraud cases
Target key areas of fraud with proven detection techniques
Significantly reduce the opportunities for corruption

Objectives

After completing this Fraud Prevention and Detection training course, you will be able to:

Evaluate and challenge management’s fraud risks
Understand how a fraudster thinks
Apply successful techniques to help prevent fraud
Promote an effective fraud prevention process
Adopt data mining as a fraud prevention and detection tool
Apply an effective fraud investigation process
Apply audit skills to fraud investigation
Spot when someone is not telling you the truth

Training Methodology

This is a basic / intermediate level course and delegates are not required to have any previous experience in fraud prevention or detection to attend
There are no minimum educational requirements
No advance preparation is required
Delivery method – Group-live (with exercises and role-plays to simulate audit scenarios and situations that assurance professionals will encounter)
A short examination will be given at the end of the course

Organisational Impact

This Fraud Prevention and Detection training course will benefit organisations in all business sectors and will provide both public and private owned businesses with a much greater appreciation of the ever increasing risk posed by fraud, and how to deal with these threats.

This Fraud Prevention, Detection and Investigation training course will enable organisational knowledge to be enhanced in the following areas:

The breadth and impact of fraud risks, especially on business reputation
The range of fraud indicators
Achieving a cost-effective balance between prevention and detection
The legal implications
The need for vigilance
Developing an anti-fraud policy

Personal Impact

This Fraud Prevention and Investigation training course will enable delegates to enhance their personal knowledge in the following disciplines:

Evaluating the fraud risks
Using interrogation techniques to detect fraud
Developing an effective fraud mitigation programme
Completing a successful fraud investigation
Delivering fraud awareness sessions to management

WHO SHOULD ATTEND?

This Fraud Prevention and Detection training course is suitable to a wide range of professionals but will greatly benefit:

Newly Appointed Fraud Specialists
Managers needing a broader understanding of how to investigate all types of fraud
Auditors who need to learn about the most modern approaches to fraud prevention and investigation
Members of fraud teams who need to learn more about targeting internal fraud
Managers needing a broader understanding of how to prevent and detect fraud

Objectives

Training Methodology

Organisational Impact

Personal Impact

Who Should Attend?

Course Outline

Day 1

Fraud Risks

Background
- Fraud Explained: Definitions
- Fraud Statistics
- Why is fraud such a serious issue?
- ACFE Fraud Survey Results
- The Cost of Fraud
- Who commits fraud?
- Profile of a Fraudster
- Trends and Statistics regarding Detected Fraud
  - Why fraud is probably being perpetrated now in your organisation?
Evaluating the Fraud Risks
- E & Y 13^th Global Fraud Risk Survey Results
- Fraud Risk Management Process
- Managing the Business Risk of Fraud (IIA, CPA, CFE Paper )
- 6 Principles (from the paper )
- Fraud Risk Management Programme should be in Place
- Fraud Risk Exposure should be Assessed
- Prevention Techniques to Avoid Potential Fraud Risk Events
- Detection Techniques should be Established
- A Reporting Process should be in Place
- A Coordinated Approach to Investigation and Corrective Action
- Building a Picture of the Major Fraud Risks
- Supplier and Outsourcing Fraud
- Fraud Risk Matrix
- Fraud Scenarios
- Fraud Risk Register Example
- Fraud Risk Questionnaire
- Generic Risk Factors
- Specific Risk
- Design of Controls to Prevent Fraud
- Physical and Logical Access
- Job Descriptions
- Accounting Reconciliations
- Supervision
The IT Fraud Risks
- Computer Fraud Paper
- Computer Fraud Prevention
- E-Commerce – The key fraud risks and steps to take to mitigate them
- Internet and Intranet – The fraud risks
- Preventing Internet Fraud Paper
- IT Security – How to evaluate effectiveness and influence change?
- Adoption and Enforcement of Information Security Standards
- Segregation of Duties - The Dangers and the Practical Solutions
- How to detect IT fraud?
Identity Fraud
- Identity Fraud – The Fastest Growing Fraud Risk
- Identity Fraud – Fraud Advisory Panel Paper
- Identity Fraud Examples
- How to protect your business?
The Risk of Corruption
- Corruption Causes
- Corruption Indicators
- Fraud Red Flags
- Procurement Fraud Risks
- The Issues to Look For
- Bid Rigging – The issues to look for

Day 2

Developing a Fraud Prevention Process

Fraud Mitigation
- How to evaluate fraud risk mitigation?
- Why controls may not protect you?
- Putting Yourself in the Mind of the Fraudster
- Examination of Typical Controls in Place to Mitigate the Risks
- Risk Exposures
- Identifying the Vulnerable Areas
Procurement Fraud
- Tendering and Bidding
- Common Indicators
- Supplier and Outsourcing Fraud
- Procurement and Inventory Fraud Risks
- A Procurement Fraud Checklist will be Provided
Fraud Indicators
- The Top 30 Fraud Indicators
- How to spot the danger signals?
- Fraud Indicators – Fraud Advisory Panel Paper
- Developing a Toolkit for Identifying Possible Frauds
- An Auditor’s Fraud Toolkit will be Provided
Implementing a Best Practice Fraud Prevention Process
- CIMA Fraud Risk Management Guidance
- Introducing Effective Anti-fraud Policies
- Creating a Fraud Consciousness Loop
- Development of a Fraud Awareness Training Programme
- Communicating Standards of Expected Behaviour /Ethics
- The Need for Strong and Consistent Action When Fraud is Suspected
- Electronic Data and Asset Protection
- Fraud Response Plans Paper
- Anti Money Laundering – issues and requirements
- Money Laundering Paper in the Pack
- The Relationship between Fraud, Risk and Control
- The Roles, Responsibilities and Liabilities of Auditors, Management, Specialists and Others

Day 3

The Link between Fraud Prevention and Detection

Aiming for a Cost-effective Balance between Prevention and Detection
- Use of Management Check-lists
- The Need to be Able to Think like a Fraudster – To be able to prevent it
- Company Policy on Consequences of Committing Fraud
- Facilitation of Whistle Blowing
- Whistle Blowing Policy
- Pros and Cons of External Hot-lines
- Use of Specialists to Aid Detection and Investigation
- Preparing and Implementing Fraud Contingency Plans
- How to ensure fraud investigation is always given top priority?
- Use of Successful Fraud Investigation as a Moral Deterrent
- Managing the External Coverage of Proven Fraud
The Assurance Role regarding Fraud
- ECIIA Paper
- Prevention and Investigation
- Should Detection be an IA role?
- The IIA States currently Detection is not an IA role
- What should IA do to aid detection?
Use of Computer Assisted Audit Techniques (CAAT’s)
- ACL as a Fraud Investigation Tool
- ACL Fraud e- book
- Examples of How to use CAAT’s in Fraud Investigation will be Shared
- Benford’s Law
- Benford’s and CAAT’s Paper

Day 4

Fraud Detection and Legal Issues

Data Mining as a Fraud Detection Tool
- Fraud Detection Basics Paper
- Fraud Profiling – How to target the right systems?
- GTAG 13 Fraud Prevention and Detection in the Automated World
- Data Mining Paper
- Risk Scoring
- Fraud Risk Prioritisation
- How to get the information you need?
- The Use of Internal Databases
- Demonstration of External Databases
- Data Validation
- Automated Fraud Detection
- How to put the techniques into use in your organisation?
- Audit Software – The tools available
- Practical Uses of Data Mining and the Results Achievable
The Legal Aspects
- The Need to Stay within the Law
- The Legal Implications
- When to bring the lawyers in?
- How to protect your work from disclosure? – legal privilege
- How to ensure that evidence is admissible?
- Search and Seizure Orders
- Civil vs. Criminal Action
- Bribery Act and the Implications for GCC Businesses
- Gifts and Hospitality Guidance
- How to recover stolen assets? – Making sure the criminal does not profit
- How to handle disciplinary proceedings?
- Employers and Employees Rights
What to do when you suspect fraud?
- How to react when fraud is suspected?
- How to decide who needs to be told?

Day 5

Fraud Investigation

Managing the Investigation
- The Need for thorough Planning
- Determining the Objectives of the Investigation
- Who should be involved? – What skills do you need?
- How to keep the investigation low-profile?
- Conducting Fraud Investigations Guidance
- Research – What information can lawfully be obtained?
- What information is available and can be used?
- Forensic Evidence and How to obtain it
- Collating Information and Maintaining the Chain of Evidence
- Knowing When to Suspend or Dismiss Employees
- Fraud Investigation Report Template will be Provided
Interviewing Suspects and Witnesses
- Setting the Scene – choice of venue, etc.
- Do you know your legal authority for conducting interviews?
- Can you use deception in interviews?
- How do you avoid breaching the employees’ rights under law?
- 47 Tips for Fraud Interviews
- Planning the Interview – do’s and don’ts
- Fraud Interview – The 10 Steps
- How to keep in control?
- How to tell if someone is lying?
Communicating the Results
- When and how to inform top management?
- When to inform regulators / the police / etc?
- Managing External Coverage
- Dealing with the Media / Stakeholders
- The Use of Successful Fraud Investigation as a Moral Deterrent
- Rebuilding Damaged Relationships

الشهادات المُعتمَدة

On successful completion of this training course, GLOMACS Certificate will be awarded to the delegates
Continuing Professional Education credits (CPE) : In accordance with the standards of the National Registry of CPE Sponsor, one CPE credit is granted per 50 minutes of attendance

Options

Anti-Money Laundering (AML) Compliance Masterclass

Classroom Sessions:

Online Sessions:

INTRODUCTION

Objectives

Training Methodology

Organisational Impact

Personal Impact

WHO SHOULD ATTEND?

Objectives

Training Methodology

Organisational Impact

Personal Impact

Who Should Attend?

Day 1

Fraud Risks

Day 2

Developing a Fraud Prevention Process

Day 3

The Link between Fraud Prevention and Detection

Day 4

Fraud Detection and Legal Issues

Day 5

Fraud Investigation

Kuwait Office

Dubai Office

UK Office