How to Prevent Fraud in Business

Course description

Fraud is the use of deception to make a personal gain for oneself or create a loss for another. This free online risk management certification will teach you how to set clear anti-fraud policies and procedures as well as the steps required to guard against fraud. Discover common types of business fraud, the personality types of people who tend to commit business fraud as well as the early warning signs in order to mitigate business risk.

Fraud has the potential to disrupt the activity of any business, be it small or big. Small and medium-sized companies are greatly affected when employees or management engage in fraudulent behaviour. Fraud causes partners and clients to lose confidence in your company and it promotes mistrust inside the workplace. In this risk management training course, you will delve deeper into the common forms of fraud that exist and the range of strategies for the prevention of fraud. Managers and employees responsible for small and medium-sized organisations should be aware of the red flags for fraud. These are warning signs that may indicate that fraud risk is higher. You will also study the personality types of people who tend to commit business fraud and the indicators of business fraud so as to spot changes in your workers' behaviour that may need closer attention. Recognizing business fraud is the first step to protecting your business from it.

In the next section of this business management certificate, you will discover barriers to creating an anti-fraud culture, how to create an anti-fraud culture, and how to implement anti-fraud policies. You will also get to know the dangers of internet fraud so as to minimize your chances of becoming a victim. The three primary elements of fraud prevention will then be explained. Various tools and techniques available to assess fraud risk and develop a response plan will be highlighted. You will see examples of anti-fraud policies, fraud response plans, a whistleblowing policy, and an anti-bribery policy that you can adopt in developing your own policies and procedures. Find out how to encourage employees to feel confident in reporting fraud, how to promote anti-fraud culture and maintain a zero-tolerance attitude to fraud in your business.

According to data produced by Accenture, 43% of cyberattacks target small or medium-sized organizations, but only 14% of these organisations are well-protected. Around 60% of successful internet fraud cases are due to phishing emails, and 30% of cases result from identity theft. This comprehensive risk management course will help you and your organisation design clear policies and procedures understood by all employees to mitigate this risk. This course is suitable for business owners, entrepreneurs, senior managers, managers, supervisors, and students in business management who would like to better understand the fraud risks they face and how to prevent them so sign up for this in-depth training and protect your business against fraud.