Common Frauds: Creating and Improving Anti-Fraud Controls for Businesses 2017

Overview:
This course will address the risks to a business from data breaches, various forms of cyberfraud and identity theft. We will discuss the legal issues with data breaches including issues for companies that are victims of data breaches. We will review the best practices for data security. Attendees will be given examples of cyberfrauds, including information on how they occur and internal controls that can help to prevent them. The new requirements for IT controls included in the 2013 COSO update will be discussed. The types of identity theft and methods used by criminals will be discussed, also how individuals and businesses can protect themselves from identity thieves. The new credit card rules will be reviewed. The compliance requirements of the Federal Trade Commission's Red Flags Rules will be reviewed.
Why should you attend :
Fraud is an ongoing concern for all businesses. The ability to detect fraud is based on an understanding of how frauds occur. This course will also help participants develop skills in creating and improving anti-fraud controls for businesses.
Areas Covered in the Session:
• The risks of data breaches
• The legal issues associated with data breaches
• Best practices for data security
• The risks of cyberfraud
• Develop internal controls to help prevent or detect cyberfraud
• The risks of identity theft
• Develop internal controls to help prevent or detect identity theft
• Review the FTC's Red Flags Rules
• The risks of credit card fraud
• Develop internal controls to prevent and detect credit card fraud
• The risks of check fraud
• Develop internal controls to prevent and detect check fraud
• The risks of accepting counterfeit currency
• Develop internal controls to prevent and detect counterfeit currency

Who will benefit:
• Professions in accounting fields such as Certified Public Accountants
• Certified Fraud Examiners
• Internal Auditors
• External Auditors
• Chief Financial Officers
• Controllers
• Accounting Managers
• Operations Managers and Business Owners would benefit from taking this course
• Additionally, anyone working in an accounting department or operations, who is responsible for accounting transactions, or compliance procedures within an organization would learn about assessing the risk of data breaches, cyberfrauds, identity theft, credit card frauds, counterfeit currency frauds and check frauds and determining the effectiveness of the internal controls designed to prevent or detect these issues. All industries and businesses of all sizes are at risk data breaches, cyberfrauds, identity theft, check frauds, credit card frauds and counterfeit currency frauds
• All businesses are at risk of being penalized for compliance lapses.

Agenda:
Lecture 1:
• Introduction to fraud
o Employee frauds
o Customer frauds
o Vendor frauds
o Fraud statistics
Lecture 2:
• Expense reimbursement frauds
• Inventory frauds
• Asset misappropriations
• Financial statement frauds
• Internal controls to help detect and prevent fraud
Lecture 3:
• The risks involved with data breaches
o Examples of companies that were victims of data breaches
o Examples of how data breaches occurred
• Some of the legal issues for companies that are victims of data breaches
• Best practices for data security
Lecture 4:
• Examples of various cyberfrauds
o Viruses, Trojan Horses, Rootkits, etc.
• Social engineering attacks and other methods of hacking your system
• Internal controls for preventing & Detecting cyberfrauds

Day 2 Schedule
Lecture 1:
• Identity Theft
o The types of identity theft
o How thieves obtain personal information
o Internal controls to prevent & detect new account fraud
o Internal controls to prevent & detect account takeover fraud
o Internal controls to prevent & detect pretexting
• How individuals and business can protect themselves from becoming victims of identity theft
• The FTC's Red Flags Rules

Lecture 2:
• Credit Card Fraud
o Methods for committing credit card fraud
o The new credit card rules (Effective 10/1/2015)
• Internal controls for preventing & detecting credit card fraud

Lecture 3:
• Counterfeit check, forged check and altered check frauds
• Disbursement frauds
• Internal controls for preventing and detecting check frauds

Lecture 4:
• Counterfeit currency frauds
• Cash receipts frauds
• Reporting counterfeit currency
• Internal controls for preventing and detecting counterfeit currency frauds
• Internal controls for preventing and detecting cash receipts frauds

Speaker:
Robert K. Minniti,
President and Owner of Minniti CPA, LLC

Bob Minniti is the President and Owner of Minniti CPA, LLC. Bob is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forens