Prevention and  Detection of Fraud

For Admission

Course Code: CC1151213
Starts: 01 December, 2014
Duration : 5 weeks, 2-3 hours/week
Instructors: Titos Panoliaskos
Email :

fraud_logoCourse description

Outbreaks and potential economic crime (organized or not, external and internal) in financial institutions and commercial enterprises both intensified the other, become more and more likely.

Thus the relative specific expertise of prevention and suppression of such cases, and particularly the phenomenon of fraud, becomes a critical need for competent units of financial institutions and commercial enterprises, as well as any authorized operator or central services.

By effective prevention and detection of Fraud, and the handling of such issues, the prevention achieved financial and operating losses or even, restricts them, and also maintains the credibility, transparency and quality of the Agency as to the clientele and to the broader market.

Teaching is through modern educational tools and approaches such as e-learning. We use modular teaching, supported learning, to reduce significantly the amount of time employees spend away from the workplace undertaking personal and professional development but avoiding the isolation of distance learning.

The e-course is divided into five lectures, which will have slides and vocal presentation. Where necessary during the presentation, there will be further explanations for the slides.

At the end of each lecture there will be three comprehension questions to complete the course and proceed to the next lesson.

At the end of the entire seminar, any participant who wishes, could field a questionnaire of multiple choice answers, and if he/she answers correctly to 50% of the questions will be awarded a Certificate.

Important notice

Upon completion of the course, the participants will have obtained the knowledge and useful tools that will enable them to:

  • prevent and suppress fraud phenomenon in their companies
  • incorporate them in already present risk prevention systems
  • improve and develop the already present risk prevention systems

The scientific supervisor will be available to offer advice or support to the participants if requested after the end of the course.

Also all the participants, will have continuous information about upcoming seminars and conferences.

Target group

Executives and Employees of:

  • Commercial Enterprises
  • Compliance Divisions
  • Wealth Management Divisions
  • Risk Management Units
  • Audit units
  • The Banking and Insurance sector
  • Marketing and Sales Divisions
  • Law Firms

Due to the curriculum development of the fundamental concepts / issues in the most complex technical and other issues, they do not require prior knowledge or experience.

Aims of the course

  • Identifying and understanding the multidimensional conceptual and technical definition of fraud and how easily can affect the results of a financial institution or a commercial enterprise
  • Acquiring expertise of prevention and detection of internal and external, fraud to an organization or enterprises
  • Clarifying the role of the Fraud Examiner and differentiation of the Internal Auditor to achieve its aims
  • Develop applied research in the areas of fraud and financial crime
  • Develop competence in these areas to encourage sustainability
  • Develop a consultancy capability in the public and private sectors

General information

All participants will be informed every 3 months by electronic Newsletter on courses, seminars, activities, books, articles, etc in relation to the course they have attended.


A certificate will be issued by DGE to the participants who scored 50% or more in the final evaluation.

Course Contents

Lesson 1:

What is Fraud

  • Definition of Fraud – Banking Fraud.
  • Fraud Factors.
  • Fraud Schemes.
  • Characteristics of Fraudsters.
  • Myths about Fraud.
  • Fraud Symptoms.
  • Conditions that lead to Fraud.
  • How Fraud will be perceived in our Business.

Lesson 2:

Fraud in a Business

  • Indicators of potential Fraud activities.
  • Code of ethics – Tone at the Top.
  • The role of Fraud and Fraud Examiner in an Organization.
  • Assessment of the risk of Fraud.
  • Labor Fraud.
  • Fraud Examiner vs Internal Auditor.

Lesson 3:

Prevention of Fraud 

  • Procedures for identification and research Fraud (Pyramid – Hotlines – Job Description).
  • Fraud Risk Assessment (FRA – Bank Example).
  • Red Flags (What they are – Where we use them -How we evaluate them).

Lesson 4:

AML is connected with Fraud?

  • Anti – Money Laundering and the connection with Fraud.
  • AML Investigations.
  • Know Your Customer (KYC).
  • Due Diligence.
  • Continuous monitoring of controls (CMC).
  • Know Your People (KYP).
  • White collar crime.

Lesson 5:

Techniques to Control Fraud

  • Technical suppression and Fraud Management.
  1. Interview (do/don’t)
  2. Report (do/don’t)
  • Usefull examples of deterrence and prevention of financial fraud.
  1. ING Australian Holdings
  2. Societe Generale France
  • Questions.

Cost and Terms

You may participate in the e-learning training under the terms:

Full access to training material and to all training procedure, which include:

  • Personal tutoring
  • Tests
  • Evaluation of the tests and recommendations of the instructor on a personal basis
  • Live communication between participants and instructors (forum, live chat, voice call)
  • Communication among participants
  • Final e-testing
  • Certification of the successful completion of the course

Course cost,

For individual participation:

€150.00 Add to cart

For group participation:

For 2 – 4 persons 5% less for each

For 5 – 10 persons 10% less for each

For group participation please contact us.