Training CD : Top Finance Frauds, Rules & Regulations and Standby Letters of Credit

How It Works:

Each webinar CD has a series of modules. Our speakers have delivered the modules using PowerPoint slides.

This training is convenient to attend individually or in groups. You don't have to travel from your office. This means you can afford to have your whole team attend. As the webinar recording CDs are licensed to be used multiple times in a location, you can schedule the training as many times for as many groups/batches as you wish. Your team members will learn the material together; everybody will get the same information.

Webinar Topics:

Employee Expense Reimbursement Fraud: Detection, Prevention and Deterrence
Accounts Payable Payment (ACH, Check, and Card) Fraud, Risk and Risk Mitigation
Complying with the Rules & Regulations Pertaining to Letters of Credit: OFAC, Anti-Boycott, and the USA PATRIOT Act
Standby Letters of Credit (for Credit Managers)

Webinars Iincluded in the Package:

Module 1 : Employee Expense Reimbursement Fraud: Detection, Prevention and Deterrence(Duration: 90 Minutes)

This 90-minute webinar will summarize the main types of reimbursement fraud to be alert to, and include an analysis of several “real life” case studies. It will explain how to identify the red flags of possible reimbursement fraud, offer specific fraud-audit techniques and test for these crimes and conclude with a rundown of proven anti-fraud controls.

Areas Covered in the Webinar:

INTRODUCTION

• Statistical overview of the fraud problem generally, and T&E fraud specifically.
• Who commits fraud.
• Why employees commit fraud (The Fraud Triangle).
• Lessons from T&E fraudsters.

COMMON TYPES OF EXPENSE REIMBURSEMENT FRAUD TODAY

• Falsifying T&E reimbursement schemes w/ bogus receipts.
• Submitting T&E claims multiple times.
• Abuse of corporate/P-card for personal gain.
• Claiming for expenses just under the limit requiring approval.
• Purchasing more than needed (e.g. office supplies).
• Exploiting AP/Disbursements control weaknesses.
• P-Card fraud.

RED FLAGS OF AP FRAUD

• Specific red flags of each of the common expense reimbursement frauds.
• The Fraud Risk Mitigation Cycle.
• Implementing an organization-wide system for detecting, preventing and investigating fraud.

FRAUD DETECTION

• How T&E Frauds Are Most Often Detected.
• Additional General Detection Methods.
• Data Mining/Analytics for fraud detection.
• Examples of Fraud Audit Techniques at Work.

ANTI-FRAUD CONTROLS FOR EXPENSE REIMBURSEMENT FRAUD

• Internal Controls and Other T&E Fraud Prevention Measures:
• Who Should Manage Anti Fraud Activities.
• Internal Controls: Do's and Dont's.
• General controls: Segregation of Duties, Delegation of Authority, Background Investigation.
• Specific Expense reimbursement controls and deterrents.

About the Instructor:

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, the leading fraud awareness training program. A user-friendly learning tool, FraudAware uses workshop, Webinar and E-Learning formats to educate employees and managers at all levels in how to detect, prevent and report incidents of fraud or suspicious conduct.

Module 2 : Accounts Payable Payment (ACH, Check, and Card) Fraud, Risk and Risk Mitigation(60 Minutes)

This training on detecting and preventing accounts payable payment fraud will explain the several types of payment fraud that occur in today’s business environment. It will provide you the tools to safeguard your accounts payable process from potential fraud.

Areas Covered in the Webinar:

• Types of fraud in Accounts Payable.
• Common flags for identifying types of fraud.
• Examples and challenges in relation to fraud.
• Data analysis and its value in fraud.
• Best Practices to mitigate or eliminate fraud.

About the Instructor:

Brent Meyers , has worked for Commerce Bank since May 2008 and is responsible for business development and commercial card services within the Midwest Territory. Mr. Meyers specializes in Automated Accounts Payable and Electronic Invoice Presentment and Payment (EIPP) solutions. Prior to joining Commerce Bank, he spent more than 8 years working at Enterprise Rent-A-Car, located in St. Louis, MO. There he held positions in Accounts Payable; Claims; and Credit Cards, both on the merchant and issuing side.

He received his Finance degree from Indiana University in Bloomington, IN. He is an Accredited Payables Solutions Consultant (APSC) through The Accounts Payable Network (TAPN) organization as well as a Certified Purchasing Card Professional (CPCP) through the National Association of Purchasing Card Professionals (NAPCP) organization.

Module 3 : Complying with the Rules & Regulations Pertaining to Letters of Credit: OFAC, Anti-Boycott, and the USA PATRIOT Act(90 Minutes)

This international trade compliance training will provide an overview and introduction to rules and regulations governing international trade and take an in-depth look at US sanctions enforced by the Office of Foreign Assets Control (OFAC), Anti-Boycott regulations maintained by the US Department of Commerce, and section 326 of the USA PATRIOT Act (“Know Your Customer”).

Areas Covered in the Webinar:

• Export licensing (e.g., the Export Administration Regulations (“EAR”) and International Traffic in Arms Regulations (“ITAR”)).
• FX controls.
• Sanctions against “enemy” countries (e.g., the Office of Foreign Assets Control and U.N. sanctions).
• Antiboycott regulations.
• Anti-Money Laundering regulations (e.g., the USA PATRIOT Act).
• Anti-corruption regulations (e.g., the Foreign Corrupt Practices Act).
• The International Commercial Terms (“Incoterms”).
• The U.N. Convention on Contracts for the International Sale of Goods (“CISG”).
• The Uniform Customs and Practice for Documentary Credits (“UCP”).
• International Standard Banking Practice for the Examination of Documents under Documentary Credits (“ISBP”).
• The eUCP.
• The International Standby Practices (“ISP98”).
• The Uniform Rules for Demand Guarantees.
• The Uniform Commercial Code, Article 5.
• The Uniform Rules for Collections.

About the Instructor:

Walter (Buddy) Baker, has over 30 years of experience in international trade finance. In May 2009 he joined Fifth Third Bank where he heads their Global Trade Solutions Delivery team. Fifth Third is one of the 20 largest banks in the US and provides a full range of risk mitigation and financing products for exporters and importers. Prior to Fifth Third, Buddy worked for Atradius Trade Credit Insurance, ABN AMRO Bank, Bank of America, Wachovia Bank, and The First National Bank of Chicago.

Module 4 : Standby Letters of Credit (for Credit Managers) (90 Minutes)

This 90-minute webinar will take an in-depth look at how standby letters of credit work and the reasons they sometimes don’t. Participants will learn how to protect themselves against non-payment.

Areas Covered in the Webinar:

• Mechanics and Principles of Letters of Credit
• Confirmed Letters of Credit
• What Is a Standby Letter of Credit?
• Uses for Standby L/Cs
• Competing Rules Governing Standby L/Cs: Which to Use
• Things That Go Wrong and How to Avoid Them
• Tips for Using Standby L/Cs Better

About the Instructor:

Walter (Buddy) Baker, has over 30 years of experience in international trade finance. In May 2009 he joined Fifth Third Bank where he heads their Global Trade Solutions Delivery team. Fifth Third is one of the 20 largest banks in the US and provides a full range of risk mitigation and financing products for exporters and importers. Prior to Fifth Third, Buddy worked for Atradius Trade Credit Insurance, ABN AMRO Bank, Bank of America, Wachovia Bank, and The First National Bank of Chicago.

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