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Understanding Fraud
Learn the background perspectives on the basics of fraud.Preview the first lesson free — get full access to all 16 lessons.
Beginner Provider : KnowledgeCity 5 chapters · 16 Lessons · 39m in Arabic, English, Spanish
Course Description
Generally speaking, the term "fraud" refers to any crime for gain that uses deception as its principal motive. Many organizations lose roughly five percent of their annual revenue due to fraud. This online training course seeks to provide the basics of what constitutes fraud and how it impacts the markets.
What You'll Learn
- Define what constitutes fraud and recognize deception as its principal motive
- Identify different types of fraud, including computer, insurance, and securities fraud
- Examine how fraud impacts markets through market analysis and the Association of Certified Fraud Examiners study
- Distinguish fraud risks between private and public companies and when employees are involved
- Apply Know Your Customer practices, including Customer Acceptance Policy (CAP) and Customer Identification Procedure (CIP)
- Implement transaction monitoring and risk management to assess levels of risk
Key Takeaways
- Fraud refers to any crime for gain that uses deception as its principal motive.
- Many organizations lose roughly five percent of their annual revenue due to fraud.
- Fraud is opportunistic and can involve employees within both private and public companies.
- Know Your Customer practices include a Customer Acceptance Policy, a Customer Identification Procedure, transaction monitoring, and risk management.
- The course covers fraud prevention and detection across areas such as computer, insurance, and securities fraud.
Frequently Asked Questions
What does this course cover?
The course provides the basics of what constitutes fraud and how it impacts the markets, covering topics such as types of fraud, market analysis, the Association of Certified Fraud Examiners study, common fraud terminology, Know Your Customer practices, the Customer Acceptance Policy (CAP), the Customer Identification Procedure (CIP), monitoring transactions, levels of risk, and risk management.
How is fraud defined in this course?
Generally speaking, the term fraud refers to any crime for gain that uses deception as its principal motive.
What skills will I gain from this course?
The course addresses skills in computer fraud, fraud investigation, fraud prevention and detection, insurance fraud, securities fraud, and the role of a Certified Fraud Specialist.
Does the course explain how fraud affects organizations financially?
Yes. The course notes that many organizations lose roughly five percent of their annual revenue due to fraud and seeks to show how fraud impacts the markets.
