Certificate in Fraud Prevention

Course details

Fraud prevention is the strategic implementation for detection of fraudulent transactions or actions and prevents these actions from resulting financial and reputational damage to the organization. Fraud prevention helps companies and financial institutions protect them and their customers from frauds.

Why should I take Vskills Fraud Prevention Certification?
Due to increased adoption of digital technologies, fraud attacks have increased many folds for companies. Fraud prevention is crucial to companies in not only preventing frauds but also for statutory compliance.

Companies especially in financial sector are increasingly looking for fraud prevention professionals to address the ever growing fraud related challenges.

Vskills Certificate in Fraud Prevention provides a hands-on approach to understand the nuances of fraud basics as well as understand fraud prevention related terminologies, tools and techniques which are helpful to design, build, and manage fraud prevention systems.

The certification attests to your understanding and application of skills and knowledge in fraud prevention. It also helps you to stand out amongst your peers.
The certification covers

• Fraud Basics
• MS-Excel for Fraud Prevention
• Internal Controls
• Standards and Compliances

How will I benefit from taking Fraud Prevention certification?
Fraud prevention certification is being increasingly taken by a large number of working professionals in banking and finance field. Also, students desirous of entering banking and finance sector, find this certification as a useful addition to their CV.

Benefits of Certification

• Government certification
• Certification valid for life
• Lifelong e-learning access
• Learning Hours: 10+ hrs

 
How It Works

1. Select Certification & Register
2. Receive Online e-Learning Access (LMS)
3. Take exam online anywhere, anytime
4. Get certified & Increase Employability

Test Details

• Duration: 60 minutes
• No. of questions: 50
• Maximum marks: 50, Passing marks: 25 (50%).
• There is NO negative marking in this module.
• Online exam.

 
TABLE OF CONTENT

Fraud Basics

• What is Fraud?
• What Constitutes Fraud?
• Why Do People Commit Fraud and What is Fraud Triangle?
• Categories of Fraud
• Types of Fraud
• Occupational Fraud
• Profile of the Typical Fraudster

Why Commit Fraud?

• The Fraud Triangle
• The Element of Pressure
• The Element of Opportunity
• The Element of Rationalization
• Characteristics of Fraud Perpetrators
• Fraudsters’ Common Behavioral Red Flags

Fraud Schemes

• First Party Fraud
• Second-Party Fraud
• Third-Party Fraud
• Detecting Single, Second or Third Party Fraud
• Common Fraud Schemes

Red Flags

• What is a Red Flag?
• Significance of Red Flags
• Common Red Flags
• Identifying Opportunities for Fraud
• Telltale Signs of Fraudsters

Fraud Risk Management

• Risk Basics
• Risk Management and Financial Ratios
• Sources of Risk
• Risk Identification
• Analyze the Risk
• Risk Assessment
• Risk Measurement
• Risk Handling Methods

Fraud Detection

• Recognizing the Symptoms of Fraud
• Accounting Anomalies
• Internal Control
• Analytical Fraud Symptoms
• Extravagant Lifestyles
• Unusual Behaviors
• Tips and Complaints
• Fraud Detection Techniques
• Data Analysis and Fraud Detection
• Data Analysis Techniques for Fraud Detection
• Industry-Specific Fraud Detection
• Applying Benford's Law
• Using Z‐SCORE
• Using Correlation

Fraud Prevention

• Creating a Culture of Honesty, Openness, and Assistance
• Eliminating Opportunities for Fraud to Occur

Fraud Monitoring and Investigation

• Fraud Monitoring
• Fraud Monitoring Tools Working
• Risk-Based Monitoring
• The Fraud Investigation Process
• Successfully Investigating Fraud

MS-Excel for Fraud Prevention

• MS-Excel Basics
• MS-Excel Window Elements
• Sort and Filter
• Charts
• Excel Formulas
• Excel Functions
• Logical Functions
• Date and Time Functions
• Lookup and Reference functions

Internal Controls

• Internal Control Basics
• Internal Control Types
• Common Internal Control Procedures
• COSO Framework
• Internal Controls Policy and Procedures

Standards and Compliances

• Compliance Basics
• Standards Basics
• Forensic Accounting and Investigation Standards (FAIS)

New Age Technologies

• Artificial Intelligence (AI) and Fraud Prevention
• Machine Learning (ML) and Fraud Prevention
• Blockchain and Fraud Prevention
• Blockchain Forensics and Cryptocurrency Forensics

Updated on 18 June, 2024