Employee Expense Reimbursement Fraud: Detection, Prevention and Deterrence

Duration: 90 Minutes
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Employees who have the opportunity to exploit weaknesses in your organization's expense reimbursement processes and procedures can do so. Moreover, anti-fraud experts agree that expense reimbursement fraud can be among the most difficult types of employee crime to detect and prevent. That is in large part due to the extraordinary variety of ways in which such crimes can be committed.
Employee Expense Reimbursement Fraud
Product ID: 507380
This webinar will summarize the main types of reimbursement fraud to be alert to, including several "real life" case studies. It will then 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.

By attending this Webinar, you will learn how vulnerable your organization is to expense reimbursement fraud. You'll learn about the common and not-so-common ways that these frauds are perpetrated and - most importantly - you'll learn how to detect the red flags of these schemes, how to audit for them and how to tighten up your controls against them.

Objectives of the Presentation
By attending this webinar, participants will be able to:
  • Understand the many types of travel, entertainment and internal procurement frauds
  • Implement effective expense reimbursement fraud detection techniques and build audit practices to detect red flags of these crimes
  • Implement best-practice Anti-Fraud Control strategies for expense reimbursement fraud
Why Should you Attend
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
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
Who will Benefit
  • Internal and external audit professionals
  • Accounting and audit practitioners
  • HR managers
  • Senior financial management seeking to reduce their vulnerability to costly frauds
  • Payables specialists
  • Procurement managers
  • Compliance and ethics managers
  • CFO's/senior financial managers
  • Security Personnel/Fraud Investigators and Examiners
Topic Background
Expense reimbursement fraud-encompassing the myriad forms of employee travel and entertainment (T&E) schemes as well as Purchasing Card (P-Card) fraud-cost organizations hundreds of thousands, if not millions of dollars per year.

According to the Association of Certified Fraud Examiners (ACFE), expense reimbursement frauds result in a median loss of $26,000 per incident and represent 14.5% of all employee fraud.

While many of these schemes are considered "immaterial"-such as claiming reimbursement for a personal meal ... charging a pay-per-view movie to a business-related hotel bill ... or inflating the cost of a taxi ride-management should not underestimate the cumulative cost of these thefts.
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Instructor Profile:
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. The newsletter is in its 15th year of publication under Peter’s leadership.

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 seminar, Webinar and E-Learning formats to train employees and managers at all levels in how to detect, prevent and report incidents of fraud or suspicious conduct.

Peter 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 International Association of Financial Crime Investigators and the IOFM Controller Certification Advisory Board. In addition, Peter has conducted numerous on-site fraud detection and prevention workshops for internal auditors, attorneys, HR executives and compliance officers at Fortune 500 companies and large not-for-profit organizations. He has also been a guest lecturer for college accounting and auditing courses. Peter holds a Bachelor’s degree from the University of Michigan and a Master’s from the London School of Economics.
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