Fundamentals of Fraud Workshop, Session 1

Federal Financial Institutions Examination Council (FFIEC)

Type of Participant Targeted
The Fundamentals of Fraud Workshop is intended for safety-and-soundness examiners with a minimum of 18 months examination experience with a need for skills in transaction testing and funds tracing. Experienced examiners should not attend.

Course Overview
This course is designed to enhance participants' fraud knowledge, analytical skills, and ability to assess operational risk. The course is divided into five modules and centers on a case study involving a one-week, on-site examination of a mythical financial institution. Each module begins with PowerPoint presentations that introduce participants to basic fraud concepts, techniques for detecting fraud, and other knowledge required for completing the case study.

Course Objectives
At the end of the course, participants will be able to

  • describe the basic types of fraud,
  • identify fraudulent activities,
  • research transactions and trace funds,
  • identify red flags to the fraud types uncovered in the class,
  • identify and manage documents,
  • explain the requirements for filing Suspicious Activity Reports (SARs), and
  • explain the effects of fraud on a financial institution's risk profile.

The length of the Fundamentals of Fraud Workshop is four days. It begins on Monday at 1:00 p.m. and ends on Friday at noon.

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Last Update: March 07, 2019