DAY I – Foundations of Fraud Risk Management

1. Introduction to Fraud Risk Management

Building an effective fraud risk management program requires a clear understanding of how and why fraud occurs. This session explores:

• How fraud is perpetrated and the common methods used

• The impact of fraud on organizations

• Factors that influence an organization’s fraud risk exposure

• Roles and responsibilities of various stakeholders in managing fraud risk

2. Overview of Fraud Risk Management

Fraud risk is one of many risks organizations face—but ignoring it can lead to catastrophic outcomes. Participants will learn:

• How fraud risk fits within the broader risk management framework

• Key elements of an effective fraud risk management program

• Why organizations must invest adequate resources to manage fraud risk effectively

3. Developing a Fraud Risk Management Program

Without clear objectives, fraud risk management programs fail. This module covers:

• Why some fraud risk management programs are unsuccessful

• Critical success factors for sustainable programs

• The eight key steps involved in developing a holistic fraud risk management program

4. Creating an Anti-Fraud Culture

Culture and internal controls are the backbone of fraud prevention. This session focuses on:

• The role of organizational culture in fraud risk management

• Elements of a strong anti-fraud culture

• Challenges organizations face when fostering ethical behavior

• The role of internal controls in preventing and detecting fraud

• How to design and implement effective anti-fraud controls

5. Fraud Risk Assessment

A robust fraud risk assessment is the foundation of a successful fraud risk management program. Participants will explore:

• What makes a fraud risk assessment effective

• How to plan and prepare the organization for the assessment

• Identifying sources and types of fraud risks

• Assessing risk severity and impact

• Developing action plans to address identified fraud risks

DAY II – Application, Culture & Continuous Improvement

1. Putting the Fraud Risk Assessment into Action

Using a real-life fraud case, participants will:

• Apply fraud risk assessment methodologies introduced on Day I

• Examine how culture, anti-fraud controls, leadership behavior, and reporting mechanisms affect fraud risk management effectiveness

2. Shaping an Anti-Fraud Culture

Many organizations avoid talking openly about fraud—yet prevention starts with transparency. This session demonstrates how to:

• Bring fraud risk into the organizational spotlight

• Proactively build an entity-wide anti-fraud culture

• Strengthen policies, hiring practices, employee support, and accountability

• Implement fraud awareness and culture-building initiatives

3. Proactively Identifying Fraud Risk Indicators

Fraud indicators often exist in plain sight. Participants will learn how to:

• Identify red flags of fraud across the organization

• Analyze both financial and behavioral warning signs

• Embed proactive monitoring techniques into the fraud risk management program

4. Monitoring, Reporting, and Improving the Fraud Risk Management Program

An effective program must evolve. This final module covers:

• Monitoring the effectiveness of fraud risk management activities

• Measuring and reporting program performance

• Building a strong case for additional funding and support

• Using a maturity model to assess, benchmark, and continuously improve the fraud risk management program