As discussed in the Association of Certified Fraud Examiners’ Occupational Fraud 2022: A Report to the Nations, 86% of all frauds are misappropriation of assets. Why is the misappropriation of assets so large? Because there as so many of them it creates many, many opportunities. And the asset which is stolen the most? CASH! Because it’s easy to conceal and you don’t have to convert it. During this presentation, the many, many different ways to misappropriate (steal) assets and which assets (besides cash) are most subject to misappropriation are discussed as well as how to recognize such and more importantly, how easy it is to prevent it!
Learning Objectives
- After this session, those individual enrolled will be able to:
- Recognize the most common Behavioral Red Flags
- Understand how skimming occurs
- Recognize assets that are easy to skim
- Understand why inventory is such a good place to hide asset misappropriations
- Identify the most common indicators of fixed assets fraud
- Illustrate how easy check fraud is and how to prevent it
Major Topics
- Identifying opportunity
- The three most common behavioral red flags that we should always look for
- The many ways to commit check fraud (it’s so easy)
- Why inventory is such a good place to hide theft of assets
- How to cover up inventory fraud
- Accounts Receivable Fraud and how it works
- How to count inventory that’s not there
