This POWER POINT PRESENTATION is intended to bring awareness to public about Frauds that became A daily routine across the world without exception and increasing day by day.
Fraudsters have become more active during this pandemic COVID-19 exploiting the difficult times by false promises online!!
With a zero tolerance level in Money Laundering and associated large regulatory penalties for non compliance, Banks and other Financial Institutes are spending immense time, effort and money to achieve compliance. Needless to say, it is still not enough. The Black Swan can enter into any Financial Institute’s Branch on any given day and sting the Bank by surprise.
The implementation of a formal and a structured AML Mitigation and oversight system and processes that effectively identify, assess, and manage such risk within acceptable levels is a challenge. Therefore, awareness about the menace of money laundering and thorough understanding of the antimony laundering process and its current trends at all levels of staff of a bank/FI are ever growing necessities.
Awaiting your valuable nominations/enquiries to make the programs mutually beneficial and successful. Please email manoj.jain@riskpro.in or contact at 98337 67114 for more details.
Program Highlights
Let the experts guide you on the best practices in Anti Money Laundering
Perspective from RBI, FIU- IND, Income Tax and more
Global regulations around AML/KYC
Indian regulations and latest reforms
How to avoid any kind of surprises
Linking AML compliance to Reputation Risk, Social Media Risk
Dodd Frank Act, US Patriot Act
What it takes to say “NO” to profitable and abundant business
Speakers and Panelist
Guest speakers from Regulatory Authorities
Risk Management and Banking Experts
Manoj Jain, Director and Co Founder, Riskpro India
Hemant Seigell, Director, Riskpro India
R Muralidharan, ex DGM - Risk Management, Bank of Maharashtra
Hemlatha Mohan, ex Country Head ORM, ING Vysya Bank
Prasanna Rath, ex Head of Risk, TAIB Bank, Bahrain
Prominent AML experts as panelist
Presentation on Financial Crimes. Money is one of the most important reasons behind all forms of crime whether Cyber or Internet crimes, Physical or Theft crimes. With the advancement of technology the crime has not decelerated but only esteemed and many more new techniques were by people and they were popularly called as Blackhat hackers. In this presentations we give an over view of the whole scenario.
With a zero tolerance level in Money Laundering and associated large regulatory penalties for non compliance, Banks and other Financial Institutes are spending immense time, effort and money to achieve compliance. Needless to say, it is still not enough. The Black Swan can enter into any Financial Institute’s Branch on any given day and sting the Bank by surprise.
The implementation of a formal and a structured AML Mitigation and oversight system and processes that effectively identify, assess, and manage such risk within acceptable levels is a challenge. Therefore, awareness about the menace of money laundering and thorough understanding of the antimony laundering process and its current trends at all levels of staff of a bank/FI are ever growing necessities.
Awaiting your valuable nominations/enquiries to make the programs mutually beneficial and successful. Please email manoj.jain@riskpro.in or contact at 98337 67114 for more details.
Program Highlights
Let the experts guide you on the best practices in Anti Money Laundering
Perspective from RBI, FIU- IND, Income Tax and more
Global regulations around AML/KYC
Indian regulations and latest reforms
How to avoid any kind of surprises
Linking AML compliance to Reputation Risk, Social Media Risk
Dodd Frank Act, US Patriot Act
What it takes to say “NO” to profitable and abundant business
Speakers and Panelist
Guest speakers from Regulatory Authorities
Risk Management and Banking Experts
Manoj Jain, Director and Co Founder, Riskpro India
Hemant Seigell, Director, Riskpro India
R Muralidharan, ex DGM - Risk Management, Bank of Maharashtra
Hemlatha Mohan, ex Country Head ORM, ING Vysya Bank
Prasanna Rath, ex Head of Risk, TAIB Bank, Bahrain
Prominent AML experts as panelist
Presentation on Financial Crimes. Money is one of the most important reasons behind all forms of crime whether Cyber or Internet crimes, Physical or Theft crimes. With the advancement of technology the crime has not decelerated but only esteemed and many more new techniques were by people and they were popularly called as Blackhat hackers. In this presentations we give an over view of the whole scenario.
Presentation given for Crowe Horwath Auditor's training session on 26/03/2016.
AML regulations are applicable to professional service providers also. See the presentation for more information
Money Laundering could be explained as the process in which large amounts of money obtained from illegal activities conducted are created to be appeared as legitimate. Some examples of such illegal activities could be crimes such as drug trafficking, terrorist activities etc. Copy the link given below and paste it in new browser window to get more information on Money Laundering:- www.transtutors.com/homework-help/finance/money-laundering.aspx
What is money Laundering? Prevention of money laundering act in india brief details
Examples of money laundering
How bad is money laundering
How can get money from Hawala?
What is punishment for Hawala in India
With today’s modern advancements in global banking and financial services technologies and interconnectivity, implementing effective, robust, and proportional Anti-Money Laundering (AML) and Counter the Financing of Terrorism
(CFT) compliance frameworks has grown ever more challenging. Not only must firms be able to implement risk-based assessments that are proportional to the size and nature of a firm’s activities, they must also ensure that these systems
can seamlessly integrate third party systems in order to provide effective monitoring of AML and CFT risks.
This training course has been specifically designed to provide a firm’s compliance and front office employees with highly comprehensive training on AML global trends and challenges, as well as a thorough review of money laundering methods
and ways of concealing beneficial ownership. By attending the training course individuals will be thoroughly trained on global money laundering techniques and will be equipped to be able to
more effectively carry out internal client AML and CFT checks and risk assessments. The training course provides practical and interactive training combined with contextual case studies
to exemplify global AML and CFT practices.
Anti-money Laundering:-
The process of disguising the proceeds of crime in an effort to conceal their illicit origins and legitimize their future use. Its main objective is to conceal true ownership and origin of the proceeds, a desire to maintain control, a need to change the form of the proceeds.Techniques used can be simple, diverse, complex, but secret.
Financial crimes compliance and enforcement trends 2019Joseph V. Moreno
Panel presentation to the DC Bar Association on September 12, 2019, by Joseph Moreno of Cadwalader, Fabio Leonardi of Pillsbury, Stephen Gibbons of Raytheon, and Woo Lee of the U.S. Department of Justice.
Presentation given for Crowe Horwath Auditor's training session on 26/03/2016.
AML regulations are applicable to professional service providers also. See the presentation for more information
Money Laundering could be explained as the process in which large amounts of money obtained from illegal activities conducted are created to be appeared as legitimate. Some examples of such illegal activities could be crimes such as drug trafficking, terrorist activities etc. Copy the link given below and paste it in new browser window to get more information on Money Laundering:- www.transtutors.com/homework-help/finance/money-laundering.aspx
What is money Laundering? Prevention of money laundering act in india brief details
Examples of money laundering
How bad is money laundering
How can get money from Hawala?
What is punishment for Hawala in India
With today’s modern advancements in global banking and financial services technologies and interconnectivity, implementing effective, robust, and proportional Anti-Money Laundering (AML) and Counter the Financing of Terrorism
(CFT) compliance frameworks has grown ever more challenging. Not only must firms be able to implement risk-based assessments that are proportional to the size and nature of a firm’s activities, they must also ensure that these systems
can seamlessly integrate third party systems in order to provide effective monitoring of AML and CFT risks.
This training course has been specifically designed to provide a firm’s compliance and front office employees with highly comprehensive training on AML global trends and challenges, as well as a thorough review of money laundering methods
and ways of concealing beneficial ownership. By attending the training course individuals will be thoroughly trained on global money laundering techniques and will be equipped to be able to
more effectively carry out internal client AML and CFT checks and risk assessments. The training course provides practical and interactive training combined with contextual case studies
to exemplify global AML and CFT practices.
Anti-money Laundering:-
The process of disguising the proceeds of crime in an effort to conceal their illicit origins and legitimize their future use. Its main objective is to conceal true ownership and origin of the proceeds, a desire to maintain control, a need to change the form of the proceeds.Techniques used can be simple, diverse, complex, but secret.
Financial crimes compliance and enforcement trends 2019Joseph V. Moreno
Panel presentation to the DC Bar Association on September 12, 2019, by Joseph Moreno of Cadwalader, Fabio Leonardi of Pillsbury, Stephen Gibbons of Raytheon, and Woo Lee of the U.S. Department of Justice.
WHITE COLLAR CRIMEWhite-collar crime is nonviolent crime commited.pdfsooryasalini
WHITE COLLAR CRIME:
White-collar crime is nonviolent crime commited for financial gain.White collar crime involve
criminal activities committed by people in the regular course of their business and involve
bribery, extortion, fraud and embezzlement. These crimes usually end in financial gain for the
perpetrator.
what are the opportuinites for diet and excercises in white collor crime:
How You prevent White collar Crime:
There are at least a few reasons we tend to worry less about white collar crime. First, no one gets
physically hurt. Second, we do not imagine professionals stealing. Third, it is difficult to
spot.White collar crime is necessarily perpetrated by people in special positions. Those people in
the office who manage figures and access funds, who make the deals and the big money, or who
file the taxes the ones you really trust with the hard stuff -- are most likely to be involved in a
criminal scheme.
Trusted criminals: Criminals, including white collar criminals, whose crimes involve a breach of
the trust bestowed on them because of their seeming respectability.
Abscam: Asting operation involving a bogus company (Abdul Enterprises) set up in the late
1970s by the FBI, which ultimately led to seven Congressmen being indicted for accepting
bribes, expelled from Congress or forced to resign; also noteworthy as the first congressional
bribe case in which videotaped evidence was available.
Directory Advertising: Actor either impersonates sales person from a directory company like the
yellow pages or fraudulently sells advertising which the victim never receives.
The schemes are often not easy for others to recognize. White collar criminals use their
professional skills for financial gain, relying on the respectability that comes with their position
as a shield. Who imagines that their accountant evades taxes?
How to Stop Fraud in Your Office:
Even if you don\'t believe your people would ever lie, cheat, or steal, you should be wary. If
workers are committing crimes or other wrongdoing and your business is implicated, you will be
held responsible regardless of your conscious involvement. Here are four simple things you can
do to help prevent problems with fraud in your office.
1.Know the Law:
Gain some familiarity with the legal requirements of your business. You will not be able to
develop an expertise in every area of the law, of course, but you should have a lawyer you can
talk to when you have specific questions and a general sense of acceptable behaviors and
potential fraud warning signs. Do not wait for a government investigation that uncovers all you
have done wrong to learn what your business was supposed to be doing. Watch the Work: Make
sure there are systems in place to check on employees. Yes, of course you must trust the people
you hired and you cannot spend all the time monitoring their activities or nothing will get done at
work. But, on the other hand, do not be naïve. Keep an eye on employees and let them know the
ways .
Forensic accounting is an emerging discipline which helps in fraud detection and prevention and used as proactive and reactive tool for frauds management
Part II of our Three-Part Nonprofit Fraud Seminar offered by Senior Partner, Larry Hoffman from the Raffa Audit Group. In this seesion, you will learn about:
- How to detect fraud perpetrators - is it possible?
- What are the red flags of fraud?
- Fraud detection techniques and how to employ them in your organization.
- What to do when you uncover a fraud, and;
- Important takeaways.
Unit 8 - Information and Communication Technology (Paper I).pdfThiyagu K
This slides describes the basic concepts of ICT, basics of Email, Emerging Technology and Digital Initiatives in Education. This presentations aligns with the UGC Paper I syllabus.
A workshop hosted by the South African Journal of Science aimed at postgraduate students and early career researchers with little or no experience in writing and publishing journal articles.
Macroeconomics- Movie Location
This will be used as part of your Personal Professional Portfolio once graded.
Objective:
Prepare a presentation or a paper using research, basic comparative analysis, data organization and application of economic information. You will make an informed assessment of an economic climate outside of the United States to accomplish an entertainment industry objective.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
Acetabularia Information For Class 9 .docxvaibhavrinwa19
Acetabularia acetabulum is a single-celled green alga that in its vegetative state is morphologically differentiated into a basal rhizoid and an axially elongated stalk, which bears whorls of branching hairs. The single diploid nucleus resides in the rhizoid.
How to Add Chatter in the odoo 17 ERP ModuleCeline George
In Odoo, the chatter is like a chat tool that helps you work together on records. You can leave notes and track things, making it easier to talk with your team and partners. Inside chatter, all communication history, activity, and changes will be displayed.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
This presentation includes basic of PCOS their pathology and treatment and also Ayurveda correlation of PCOS and Ayurvedic line of treatment mentioned in classics.
Digital Artifact 2 - Investigating Pavilion Designs
Part 1- FRAUD AWARENESS -LESSONS-PART-1
1. Lessons On Fraud Awareness- PART 1
Author
K. Narayanarao
B .Com ; FCA; CFFE-(IFS-Pune),CFE-(West Virginia university)
www.fraudsdetection.com. LinkedIn
1
2. Fraud is a global problem; Frauds and fraudsters have no geographical boundaries.
Books and Records don’t commit fraud-people commit frauds!!
When everything is connected, everyone is vulnerable.
2
4. Introduction-A glimpse into world of frauds.
* MEANING OF FRAUD
* EVOLUTION OF FRAUDS
* VARIOUS TYPES OF FRAUDS
* PSYCHOLOGY OF A FRAUDSTER
* WHO IS A FRAUD EXAMINER
* QUALITIES OF A FRAUD EXAMINER
* WHAT IS FORENSIC ACCOUNTING
* AUDITOR-FRAUD EXAMINER-FORENSIC ACCOUNTANT
* WHAT IS INTERNAL CONTROL
* RED FLAGS –MEANING & SIGNIFICANCE
4
5. Meaning of Fraud
*A Fraud is a deception by a person or group of persons to secure unfair or unlawful gain at the cost
of “VICTIM” who Trusted such a person viz. the Fraudster or the Con Man.
*“A false representation of a material fact, either a misstatement or omission, with knowledge that
the representation is false with total disregard for truth”
*“Fraud can be simply explained -Behaviour of one person, to gain by dishonest means an
advantage over another person.
*“Cheating the public with misleading and false promises…”
5
6. Evolution Of Frauds-1
*Frauds existed since 17th Century. Thus Frauds are not new but have a long history . At any given
opportunity there are fraudsters who perpetrated or committed a fraud by cheating another.
*1770-Philip Alston-Counterfeit of coins
*1840-William Thompson-”Con Man”, confidence man-
*1874-James Reavis-American Fraudster & Forger-$5.3 Million cash
*1903-1920-Charles Ponzi-the most infamous American Italian Swindler
involved in Ponzi schemes-offering10% interest /pm!!
6
7. Evolution Of Frauds-2
*1964-1969-Frank Abangale -Movie-”Catch me if you can” He was One of the biggest con artists and a
legendary imposter-expert in cheque manipulation.
*1991-2009-Allen Stanford-He is a financial fraudster and ran a $7 Billion 20-year scheme through his Antigua
based Bank. He was given 110 years prison sentence!!
*2001-ENRON Scandal- The Massive and the Biggest Accounting Fraud. The CEO & CFO responsible for
ENRON’s fall were held guilty of the fraud.
*2005-2012-Berene L Madoff-The biggest con artist of Ponzi scheme- has cheated one and all to the tune of US
$70 Billion. 150 years’ prison sentence.
*2009-Satyam Computers-Ramalinga Raju-Rs.7000 crores fudging accounts.
*2015-Volkwagon Emissions scandal:
2018-PNB-Nirav Modi $2 Billion LOU scam.
2019-PMC Bank Fraud-Rs.6500 Crores……..and so on…on…!!
7
8. Who Is a Fraud Examiner?
• A Fraud examiner is one, who is trained in the various aspects of frauds, their detection, prevention.
• A fraud examiner is called in to catch the “thief “ after a fraud has happened.
• A fraud examiner will go deep into the examination of book, records, analysis and applies various fraud examination
techniques ,interviews
of people and finally submits a report on his findings .
• A Fraud examiner should have a keen eye for details and keep his ears open for information.
• The fraud examiner should be well versed with all laws at international level as fraudsters have become more intelligent in
their activities exploiting loopholes in the statutes and laws across the world.
• Data analytics play a critical role for fraud examiner investigations. The role involves in investigate, identify, prevent both
financial and legal crimes and frauds.
• Fraud examiner’s role not only includes unearthing a fraud but also to find out why the fraud occurred.
• A fraud examiner is like Sherlock Holmes-.Most famous Adventure detective-Novels-by Sir Arthur Conan Doyle. 8
9. Various Types Of Fraud----- (Ref:slide12)
The following are, broadly, the various categories of Frauds:
1.Corporate frauds
2. Bank Frauds
3. Insurance Frauds
4.Cyber crimes
5.Securities frauds
6.Consumer frauds
9
10. Psychology of A Fraudster>>>>>>>>->
The following Concepts best explain the Psychology of a Fraudster:
1.Donald Cressy Fraud Triangle
2.Executive fraud triangle
3.Fraud Diamond
4.Crow Horwath's Fraud Pentagon
5.Steve Albrecht-Fraud Scale
6.Fraud Circle
7.Hollinger Clark’s theory
10
11. Psychology of A Fraudster…..(Contd..)
All the concepts identify the following as the reasons for a person to commit fraud…whether an
employee or Manger or Management:
1.Pressure,Attitude & Opportunity-(P+A+O)
2.Greed,Pride,Entitlement
3.P+A+O +Capability
4.P+A+O+Competence,Arrogance
5.P+O+Integrity is High & Integrity is Less = Occupational Fraud Occurs
6.Where there is Money->Chances of fraud High
7.Employee dissatisfaction
11
12. Various Categories Of Frauds……(Ref:slide-9)…..
Briefly the following are the various categories and what type of fraud is perpetrated under the category::
1.Corporate Frauds :
Corruption ,Money laundering, Asset misappropriation, Fraudulent financial statements
2.Bank Frauds :
Identity theft, electronic wire frauds, credit/debit card ,cheque, ATM frauds, Money laundering, Loan frauds
3.Insurance Frauds:
Premium diversion, Fee Churning, Asset diversion, workers compensation, Fraudulent claims.
4.Cyber Crime Frauds:
Hacking, Networks, Anything connected with net-Computers/Mobiles, Social media apps.
5.Secuities frauds-
Stock market frauds, penny stock frauds, Insider Information,
6.Consumer Frauds:
Deceptive business practices where by consumers suffer losses as they believe that the transaction is legal but in fact
defrauded.-Online shopping, online offers-mainly targeting older and younger generations.
12
13. Forensic Accounting: Very Important Concept: A brief note:cont..
It is relevant to understand during fraud examiner discussion about the term Forensic accountant:
It is in its simplest form Forensic accounting is the application of accounting techniques and
concepts in issues concerning legal matters. The requirement comes, due to, high rate, of white-
collar crimes like embezzlement, fraudulent financials and various other financial wrong doings.
A forensic accountant is a qualified accountant and is called upon to examine books of account for
various purposes which may include or help the legal & Statutory regulators. Also he may be
called upon to investigate any suspicion of fraud of any department or a corporation.
13
14. Forensic Accounting: Very Important Concept: A brief note:
Forensic Accountants help is needed in price fixations, stock market manipulations and at times
even manipulation of the financial figures by the managements to window dress the balance
sheet and profit and loss account figures to hide real facts from the stake holders and general
public, for the funds misused or misappropriated by the top managements.
Thus in a forensic accounting assignment there need not be a fraud involved but in case of a fraud
examination the assignment involves investigation into a fraud that occurred. Where a forensic
accountant is given assignment into investigation his report is admissible as a evidence in a court
of law hence forensic examiner should exercise utmost care in his investigation and reporting.
14
15. Internal Control: Meaning & Brief Description.
Internal control is defined as a process for assuring of an organization's objectives in operational effectiveness and
efficiency, reliable financial reporting, and compliance with laws, regulations and policies. It includes internal
auditing
(Wikipedia-definition).
Internal controls in an organization Prevent, Detect and helps in taking corrective action.
• Internal accounting controls include:
• Separation of Duties. ...
• Access Controls. ...
• Required Approvals. ...
• Asset Audits. ...
• Templates. ...
• Trial Balances. ...
• Reconciliations. ...
• Data Backups.
15
16. Red Flags:>>>>>>>>
• Red flags are various indications or alerts that may arise ones’ suspicion with respect to a
transaction, person or persons. The fraud examiner or forensic accountant or the auditor must
have a keen eye for such indicators to probe deep into the matter .
• Top 10 Red Flag Warnings of fraud:
• https://www.accountingweb.com/aa/auditing/top-10-red-flag-warnings-of-fraud
• 10 ways Insurance Agents spot fraudulent claims:
• http://autoinsurancesecretsandtips.blogspot.in/2016/10/10-ways-insurance-agents-spot.html
• 3.How to protect yourself from credit card frauds:
• http://www.marketwatch.com/story/5-ways-to-protect-yourself-from-credit-card-fraud-2014-06-25
• 4.Online banking fraud- customer is safe if reported within 3days-RBI-India
• http://www.firstpost.com/business/online-banking-frauds-rbi-says-no-loss-to-customer-if-fraudulent-transaction-reported-in-3-days-3783491.html
•
•
16