Fraud and Cyber Fraud - Methodologies of Fraud and Investigation Techniques, an Examination of Modern Fraud Typologies in the Digital Age

Each year, many professionals are targeted by scams or fall victim to scams of any nature. These scams severely impact the finances of businesses and the financial annual estimate amounts to EUR 3 billion in EU countries alone. The risk to agencies and entities across all divisions of government and private sector from fraud is as high as ever. 

The objective of this programme is to engage with the students to focus on types of fraud and how we can be better at recognising and preventing fraud. This course will be conducted as a workshop session that will allow the students to be dynamic in the development of a fraud strategy and understand where the fraud risk is to themselves, organisations, colleagues and the community as a whole.

During this course, participants will:

• Gain greater awareness as to what are the greatest risks, across organisations of all sizes, posed by fraud and cyber fraud

• Recognise and discuss typologies and methods of fraud activity through the forensic examination of case studies

• Understand why it is vital for management understanding of the fraud risk and the need for effective internal controls and risk management systems

• Gain a better understanding of managing fraud by developing a group fraud strategy.

• Understand Fraud and Financial Cybercrimes, (Financial Theft, Cyber Extortion, Phishing Scams), First- party fraud and Authorised Push Payment (APP) fraud

• Recognise the key challenges facing the European Community with regard to the Europol and National Risk Assessments, and the impact of Fraud and Cybercrime on them

• Review Case studies and Typologies of Fraud and Financial Crime, including Methods of Payment

• Fraud, Insider Risk, Money mules linked to Cybercrime, Carbon Offset Fraud (VAT Scams) and their Environmental impact

• Understand the impact of Artificial Intelligence through the exploitation and use of dating and social media fraud, the rise in “bogus boss” scams, elaborate webs of fake websites, fake CVs and investor profiles to target a range of victims from personal investors to tax authorities

• Social Engineering is used to facilitate fraud in many cases. The act utilises common human behaviour and psychology to hook, exploit and execute the intended target.

Working in small teams, participants will create an effective fraud investigative strategy to identify the relevant action(s) necessary to efficiently achieve the objective of reducing fraud, considering the appropriate resources, priorities, necessity, and proportionality, and the relevant use of legislation and regulation.

NGO, Public Bodies, Auditors, Financial Services Business, and Banking.