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Proactive Strategies in Preventing and Detecting Procurement Fraud

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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Overview

Every business that purchases and contracts for goods or services is vulnerable to a wide variety of procurement fraud hazards. Many of the fraud schemes involve vendors and contractors in collusion with employees responsible for making purchases and administrating contracts, as well as with the employee who requests the purchase of goods or services. Procurement fraud is costly to a company and costly to investigate. Preventing this activity makes good business sense. This webinar will provide prevention and detection strategies.

Why should you attend?

You should attend this webinar to gain an understanding and awareness of the procurement fraud hazards that affect every business or organization that purchases materials. In addition, the attendee will learn prevention and detection strategies that will save the organization from extensive off the book losses.

Areas Covered in the Session:

  • Types of Procurement and Contract Fraud
  • Procurement and Contract Fraud Indicators 
  1. Pre-Solicitation Phase
  2. Conflict of Interest
  3. Collusive Bidding 
  4. Sole Source Issues
  5. Solicitation Phase
  6. Contract Award Phase
  7. Post Award Phase
  8. Change Order Fraud
  • Other Procurement Fraud Hazard
  1. Use of Brokers
  2. Phony or Shell MBDO companies
  3. Buyer acting as Contract Administrator.
  4. Miscoding in procurement files
  • Prevention and Detection Strategies

Who can Benefit:

Any organization or business that purchases goods, material, or services. (That is just about every organization). Organizations that do not have a program in place to prevent, detect, or investigative procurement fraud.

  • Business Owners 
  • Management 
  • Compliance Officers
  • Corporate Investigators and Fraud Examiners
  • Internal Auditors
  • Controllers 
  • Purchasing Professionals 
  • Accounting and Finance Professionals 
  • Audit and Finance Committee Members

Webinar Id: ISFJG003

Duration: 90 mins

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