Fraud in Social Media and How to Protect Yourself and Your Organization

Why Should You Attend:

Facebook, Linkedin, YouTube and numerous other social media web sites have become the as essential to daily life as food and water. Facebook recently recorded to its one-billionth member. While this is powerful evidence of the positive characteristics of social media, these sites have also become breeding grounds for numerous types of fraud. From identity theft, social engineering, theft of business secrets and confidence schemes galour, users of these sites are now at great risk of victimization by cyber-criminals around the world.

Here is one of the fastest-growing schemes on social media sites: Most online accounts use “qualifying questions” or Knowledge Based Authentication questions and answers to verify your identity. These questions involve personal information, such as your childrens’, other relatives’, or pets’ names or birthdays. When the fraudsters find this information on your Facebook page, they can reset your passwords and steal your identity.

Key message: Limit what you post, and lock down your privacy settings.

Learning Objectives:

• How E-fraudsters exploit Facebook and other social media sites to commit fraud
• How to monitor social media sites for signs of criminal actions against your organization
• How to reduce your risk of fraud victimization via social media
• Who should be accountable for monitoring and reacting to social media attacks

Course Agenda:

INTRODUCTION:

• Statistical overview of the fraud problem generally, and T&E fraud specifically.
• Who commits fraud
• Lessons from social media fraudsters

COMMON TYPES OF SOCIAL MEDIA FRAUD TODAY:

• Identity theft and fraud
• Impersonating company executives or employees for personal gain
• Impersonating company websites
• Gathering confidential information using false pretexting
• Corporate spying

PROTECTING THE ORGANIZATION AGAINST SOCIAL MEDIA FRAUD:

• What you can do with Google and other search engines to thwart fraudsters
• How blogging can prevent social media fraud
• Best policies for governing employee use of social media
• Essential information and network security measures for minimizing social media fraud

Who will Benefit:

• Internal and external audit professionals
• IT managers and auditors
• Website managers
• Accounting and audit practitioners
• HR managers
• Senior financial management seeking to reduce their vulnerability to costly frauds
• Procurement managers
• Compliance and ethics managers
• CFO’s/senior financial managers
• Security personnel

Instructor Profile:

Peter Goldmann, has 25 years of experience as a business journalist and trainer, having launched, edited and published numerous business trade periodicals covering small business, international trade, management strategy, banking and personal finance. He is a Certified Fraud Examiner (CFE) and a member of the Editorial Advisory Committee of the Association of Certified Fraud Examiners (ACFE) as well as an active member of the Institute of Internal Auditors, the High-Tech Crime Investigation Association and the IOFM Controller Certification Advisory Board. He is a regular columnist for the ACFE’s newsletter, The Fraud Examiner and is a frequent contributor to other leading industry publications on anti-fraud topics. He has appeared on Fox Business News, The Wall Street Journal This Morning, The New York Times and Internal Auditor magazine. Peter Goldmann is president of White-Collar Crime 101 LLC, the publisher of White-Collar Crime Fighter, a widely read monthly newsletter for internal auditors, controllers, corporate counsel, financial operations managers and fraud investigators. Peter is the author of Fraud in the Markets: Why it Happens and How to Fight It, published by John Wiley & Sons, as well as four other anti-fraud books. Peter also developed FraudAware, a leading fraud awareness training program.

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