Background:

Hetta Institute for International Development (HIID) is a USA-based professional educational corporation specializing in human capacity building. The Institute specializes in helping the mid and senior-level executives, particularly those from the developing countries, to upgrade their skills. HIID was founded in 2001 and registered with Arizona Corporation Commission, Phoenix, Arizona, USA.  Hetta Institute for International Development is also registered with the New Jersey Department of the Treasury Division of Revenue and Enterprise Services. HIID also partners with the Center for Executive Training and International Development (CETID), a professional training provider in sustainable development, registered and based in Manhattan, New York City, USA.   Since 2001, HIID has provided short term training courses to hundreds of high-ranking government and corporate officials.

Course Description:

Studies show that fraud is a major factor responsible for business failures in the modern economy. Fraud is a $988 billion global industry. In 2010, fraud contributed 35 percent to business collapse in developing countries. In the developed economy, credit card fraud costs the industry several billion dollars a year. More losses from cyberspace fraud are likely to increase as more businesses are conducted online. If undetected and not prevented at the early stage, fraud can cause a business failure through bad checks, online fraud, financial malpractices, dishonest staff, weak supervision of staff, poor internal financial control system, and weak corporate governance. More companies and public institutions have begun to maintain proper internal financial controls and preventive measures to guard themselves against fraudulent activities by their employees and customers. This course will walk participants through the techniques to arm themselves with strategies and tactics to prevent their organizations from becoming victims.

Course Learning Objectives:

This short course aims to enhance the skills of financial officials to detect and prevent fraud in their organizations.

Course Content:

The “Fraud Detection and Prevention in Private and Public Institutions” course has some of the following key areas of learning for I and 2 weeks organized into the following modules:
  • Anatomy of Fraud
  • Fraud definitions: What is fraud?
  • Legal elements of fraud
  • Differences between error and fraud
  • Fraud and corruption
  • Major categories of Fraud
  • Elements of fraud

Types of Fraud:

  • Telemarketing
  • The “419” Fraud
  • Identity Theft
  • Advance fee schemes
  • Market manipulation fraud
  • Fake checks etc.
  • Symptoms of Fraud
  • Accounting anomalies
  • Internal control weaknesses
  • Analytical anomalies
  • Extravagant lifestyles
  • Unusual behavior
  • Tips and complaints
  • Fraudulent financial reporting
  • Misstatement from misappropriation of assets

Causes of Fraud:

  • Fraud Triangle
  • Opportunity
  • Rationalization
  • Pressure

Consequences of fraud:

  • The costs of fraud and litigation
  • Business collapse

Fraud Detection techniques:

  • Who are in the best position to detect fraud?
  • Communication about fraud
  • Role of the auditors
  • Identification of red flags
  • Targeted risk assessment
  • Understand the organizational structure
  • Human resources department policies
  • Use of red flags to detect fraud
  • Tips and complaints
  • Whistleblower
  • Anonymous hotline
  • Lifestyle symptoms
  • Unusual behaviors
  • The role of law enforcement agents
  • Accounting anomalies
  • Cooking the books
  • Internal control irregularities and weaknesses
  • Digital evidence
  • Forensic analytics

Fraud Prevention and Deterrence techniques:

  • How to create a fraud-free environment
  • Create fraud deterrence consequences
  • Design well internal control system
  • Use fraud investigation system when necessary
  • Set clear standards
  • Check employee references
  • Prosecute the offenders
  • Role of external auditors
  • Internal auditors
  • Role of the Board of Directors
  • Management responsibility
  • Regular financial statement and reporting system
  • Seven effective ways for public sector entities to prevent fraud
  • Asset declaration of public office holders

Fraud Investigation Techniques:

  • What are the different Types of Fraud investigations?
  • What can you do to help a fraud investigation?
  • Six basic steps in fraud investigation
  • Recognition
  • An attitude
  • Commitment
  • Red flags
  • Fraud risk factors
  • Evidence
  • The problem of intent
  • Create a hypothesis
  • Investigative tools
  • Evidence gathering process
  • Case storyline
  • Timeline
  • Inconsistencies and other fraud indicators
  • Reading nonverbal messages

Interviewing and interrogation Process:

  • Preparation and planning
  • A general approach to conducting Interviews
  • Interviews of Witnesses
  • Three stages of Interviewing

Case Studies of Major Fraud Detection and Prevention:

  • Enron, Tyco International, Bernard Madoff, etc
  • The latest trends and issues in public and corporate fraud
  • Latest and resourceful scams prevention techniques currently in practice
  • Problem-solving exercises
  • Computer training with a brand new laptop to take home
  • Field trips

Learning Outcome:

At the end of the course, participants should be able to recognize and understand the serious problems of fraud in private and public businesses. They should be able to:
  • 1. Identify and understand the importance of fraud detection and prevention
  • 2. Understand how symptoms help in the detection of fraud
  • 3. Describe internal controls that help detect fraud
  • 4. Identify and understand the analysis of fraud
  • 5. Conduct investigations of fraud cases.

Learning Methodology:

The course is delivered in a workshop setting facilitated by seasoned professional facilitators with practical experience. Active participation is required and key to the success of the workshops. Other methods used in this course include case studies and problem-solving exercises. Assessment of participant’s performance will be measured through effective class participation, group presentation, group projects, and class attendance. This course combines presentations, lectures, class discussions, group presentation, and problem-solving exercises.

Who should attend?

Managers, business lawyers and legal advisers, business owners, administrators, personnel officers, audit department directors, internal audit managers, accountants and controllers, human resources professionals, private investigators, corporate executives, officials of economic and financial crime prevention agencies, key political figures, key legislators, Ministry of Finance managers, Central Bank managers, commercial bank officials, judges, law enforcement officials, insurance company managers, notaries, property estate managers, stock exchange managers, and other personnel as deemed appropriate by management.

Course Duration:

2 weeks

Training Locations and Scheduled Dates:

Phoenix, Arizona, USA; Jersey City, New Jersey, USA: Jan 6-17; Jun 15-26; Oct 19-30, 2020 Washington DC, USA:

Course Materials:

Include PowerPoint presentation slides, carefully selected reading materials, exercises, case studies, reading references, and a laptop computer.

Registration Fees:

The course fee is $4,950 USD for two weeks. The course fee covers the following: instruction, сourse materials, one brand new laptop computer to take home, administration expenses, field trips, cultural programs, and miscellaneous program-related expenses.

How to Register:

To participate in this course, the applicant must:
  • 1. Send a completed application form
  • 2. Have a bachelor’s degree/or have relevant work experience at senior management level
  • 3. Be nominated by the head of his/her department
  • 4. Be a senior member of the organization
  • 5. Demonstrate a devoted interest in the course
  • 6. Have proof of English proficiency
  • 7. Demonstrate proof of financial sponsorship for the course