Fraud Management, Internal Controls & Investigations

Fraud and corruption pose significant risks to organizational integrity and performance. This course provides participants with the knowledge and tools to identify, prevent, and manage fraudulent activities. From legal compliance to effective investigation techniques, participants will learn to safeguard their organizations against fraud-related risks.

This course is suitable for:

Corporate Governance and Integrity Professionals
Risk and Compliance Officers
Audit and Investigations Teams
Procurement and Contract Managers

Fraud Detection and Prevention: Understand red flags, malpractices, and fraud prevention methodologies.
Legal Frameworks: Gain insights into compliance with MACC Act 2009, ISO 37001, and other standards.
Investigation Techniques: Learn how to conduct fraud investigations, analyze evidence, and mitigate risks effectively.
Corporate Governance: Understand the role of governance in fraud mitigation and whistleblowing processes.

By the end of this course, participants will:

Identify potential fraud risks and malpractices within their organizations.
Develop fraud response and prevention plans aligned with legal standards.
Conduct effective fraud investigations using proven methodologies.
Enhance organizational integrity through robust internal controls and governance practices.

Integrity

Definition of integrity and its significance in organizational practices
Initiatives promoting integrity in Malaysia

Understanding Fraud

Why people commit fraud: The “Fraud Triangle”
Categories of fraud: White-collar vs. blue-collar crimes
State of mind (Mens Rea) and intentional perversion of truth
Misrepresentation and its implications

Compliance Framework and Asset Management

Legal frameworks and standards, including:
- ISO 31000
- ISO 9001:2015
- ISO 37001
Best practices in compliance and governance
Asset management: Addressing both tangible and intangible assets

Ethics and Integrity Risks

Differences between personal, business, and professional ethics
Categorization of non-ethical behaviors and their adverse effects
Managing ethical risks within organizations

Fraud Detection and Prevention

Identifying red flags and fraudulent activities
Fraud prevention methodologies, including Fraud Prevention Methodology (FPM)
Techniques for detecting misappropriation, cash receipt fraud, and accounts monitoring

Corruption and Bribery (MACC Act 2009)

Definitions of bribery, corruption, and gratification
Tell-tale signs and common methods of corruption
Book transactions and unconventional fraud methods

False Claims (MACC Act 2009 & Malaysian Penal Code)

Principles of agency and fraudulent documentation
Identifying false, erroneous, or defective particulars in claims

Fraud, Risk, and Corporate Governance

Fundamentals of fraud risk and its impact on corporate governance
Exploring the relationship between environment, people, and opportunity
Enhancing governance through effective whistleblowing policies

Fraud Investigations

Developing investigation plans and scopes
Methods for proving intent (Mens Rea) and fraudulent acts
Gathering evidence: Document reviews, forensic analysis, and incident behavior assessments
Record-keeping and data analysis for investigations

Procurement and Fraud Risks

Acknowledging risks in supplier sourcing and contract management
Establishing criteria for supplier evaluation and monitoring
Performance management for fraud prevention in procurement

Advanced Fraud Mitigation Strategies

Leveraging technology: AI and data analytics for fraud detection
Formalizing fraud reporting mechanisms and consequence management systems
Conducting domestic inquiries and implementing disciplinary actions

Summary and Wrap-Up

Recap of key learning points
Mind mapping and addressing participant queries

This course empowers participants to build a strong organizational defense against fraud and corruption. Through legal knowledge, practical tools, and hands-on exercises, participants will be equipped to foster a culture of transparency and accountability.

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