Travel & Entertainment Reimbursement Fraud Detection and Prevention - NASBA CPE 1.5
- Speaker:Peter Goldmann
- Date: 9th May 2019 10:00 AM PST | 01:00 PM EST
- Product Code:GRC-90586
- NASBA CPE: 1.5
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NASBA CPE Credits: 1.5
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Expense reimbursement fraud encompassing the numerous forms of employee travel and entertainment (T&E) schemes as well as Purchasing Card (P-Card) fraudcosts 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 percent of all employee fraud.
While many of these schemes are considereda 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.
This webinar will summarize the main types of reimbursement fraud to be alert to, including several a real life case studies. It will explain how to identify the red flags of possible reimbursement fraud, offer specific fraud-detection techniques and tests for these crimes and conclude with a rundown of proven anti-fraud controls.
The webinar will cover:
- Types of T&E P-Card fraud and most common perpetrators
- Red flags of T&E fraud to watch for
- Latest best practices in early T&E fraud detection
- T&E fraud prevention best practices
- Explore the common and not-so-common T&E fraud risks to your organization
- Identify the most common T&E fraud perpetrators
- Understand the red flags of potential or actual T&E and P-card fraud
- Learn how to detect T&E and P-Card frauds quickly and efficiently
- Understand best practices in minimizing your organization risk of falling victim to T&E fraud
Peter Goldmann is President of FraudAware LLC, the publisher of White-Collar Crime Fighter, a widely read bi-monthly newsletter for internal auditors, controllers, corporate counsel, financial operations managers and 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. The book is an in-depth account of the role that fraud played in bringing about the financial crisis of 2008.
Peter is also the author of four other anti-fraud books covering accounts payable fraud, accounts receivable fraud, as well as two workbooks on fraud and cyber-risk and control, also published by Wiley.
Peter also developed FraudAware, the leading fraud and cyber-crime 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, information theft and other forms of financial and electronic suspicious conduct.
FraudAware courses, which are customized for individual corporate, non-profit and government agency clients, reinforces organizations’ whistleblowing programs by enabling employees to detect illegal activity that can then be reported to supervisors or managers or by using the organization’s confidential hotline in accordance with established policy.
In addition, Peter has conducted numerous on-site fraud and cyber-crime detection and prevention workshops for internal auditors, attorneys, HR executives and compliance officers at Fortune 500 companies including Siemens Corp., Marriott International, Sony Denny’s Corp, as well as large not-for-profit organizations. He has also been a guest lecturer for college accounting and auditing courses.
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, cyber-crime (Cyber-Crime Fighter) 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).
He has been a columnist for the ACFE’s newsletter, The Fraud Examiner and is a frequent contributor to other leading industry publications on anti-fraud and cyber-crime topics. He has appeared on Fox Business News, The Wall Street Journal This Morning, The New York Times and Internal Auditor magazine.
Peter holds a Bachelor’s degree from the University of Michigan and a Master’s from the London School of Economics.