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Preventing and Detecting Fraudulent Vendor Disbursements

John E. Grimes III, CFE, CFI is Keynote Speaker at Ijona skills. has over 45 years of law enforcement, criminal investigation, loss prevention, fraud examination experience, and teaching experience. John began his law enforcement career with the Baltimore City Police Department where he became a Detective in the Criminal Investigation Division (CID). John left Baltimore and became a Special Agent with the Amtrak Police Department Fraud and Organized Crime Unit and was later promoted to Captain of the CID. In 1993, John joined the Amtrak Office of Inspector General/Office of Investigations as a........

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A prevalent fraud that occurs is improper payments to vendors, fictitious vendors, and related party vendors. A dishonest employee can easily manipulate vendor and accounts payable records to facilitate fraudulent disbursements. The Association of Certified Fraud Examiners claims that nearly two thirds of an entity?s fraud exposure involves fraudulent disbursements.

Why should you attend?

Due to the prevailing hazard surrounding fraudulent disbursements, it is imperative that an organization's accounting department, internal auditors, external auditors, and fraud examiners undertake an ongoing robust, cost effective, review of the internal controls over the cash disbursement process. Preventing fraudulent disbursements is the goal with a secondary objective of early detection.
By attending this webinar you will learn the various methods that fraudsters employ to commit disbursement fraud. In addition, you will learn how a strong anti-fraud policy, understanding the human factor, and performing established audit techniques will minimize disbursement fraud. You will learn the established audit techniques to prevent and detect disbursement fraud, as well as gain an understanding of the criticality of being a professional skeptic when conducting the audits.

Areas Covered in the Session:

  • Various Disbursement Fraud Schemes
  • Employee Collusion with Vendors
  • Countermeasures
  • Internal controls
  • Prevention strategies
  • Detection Strategies
  • Investigative Strategies

Who can Benefit:

Any organization that makes payments to vendors for goods, materials, and services

  • Fraud Examiners
  • Internal Investigators
  • External Auditors
  • Internal Auditors
  • Accounting Department Personnel 
  • Compliance Personnel 
  • Finance Managers

Webinar Id: ISHJG002

Duration: 90 mins

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