Employee Expense Reimbursement/Travel & Entertainment Fraud Detection and Prevention

Presented by Peter Goldmann

Expense reimbursement fraud—encompassing the myriad forms of employee travel and entertainment (T&E) schemes as well as Purchasing Card (P-Card) fraud—costs 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% of all employee fraud. While many of these schemes are considered “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 “real life” case studies. It will then explain how to identify the red flags of possible reimbursement fraud, offer specific fraud-audit techniques and test for these crimes and conclude with a rundown of proven anti-fraud controls.

Detecting and Preventing Accounts Payable Fraud

Presented by Peter Goldmann

Accounts Payable (AP) is the one business function that, in many organizations, is more vulnerable to fraud than any other. That is because all funds that flow out of the organization must first pass through AP. And over time, dishonest insiders and vendors have created newer and craftier methods of stealing from organizations by exploiting control weaknesses in the AP function.

How to Detect and Prevent Employee Fraud

Presented by Peter Goldmann

Employee fraud has become a serious and persistent cause of financial losses and reputational damage to organizations of all kinds... More and more employees are committing crimes such as embezzlement, check fraud, falsification of financial statements, collusion with corrupt vendors and, as most recently with Volkswagen, fraudulent manipulation of product specifications. Making matters worse, computer and Internet technology have given dishonest workers new ways to steal money, sensitive information and even hard assets from their employers. The good news is that there are ways to both detect and protect against most forms of employee fraud and misconduct. In this webinar, you will learn how to identify potential perpetrators in your organization, detect signs of fraud, and create robust controls that will eliminate opportunities for fraud.

Peter Goldmann is president of FraudAware LLC, the publisher of White-Collar CrimeFighter, a widely read monthly newsletter for internal auditors, controllers, corporate counsel, financial operations managers and fraud 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, as well as four other anti-fraud books. Peter also developed FraudAware, the leading employee fraud awareness training program. A user-friendly learning tool, FraudAware uses workshop, Webinar and E-Learning formats to educate employees and managers at all levels in how to detect, prevent and report incidents of fraud or suspicious conduct. In addition, Peter has conducted numerous on-site fraud detection and prevention workshops for internal auditors, attorneys, HR executives and compliance officers at Fortune 500 companies and large not-for-profit organizations. He has also been a guest lecturer for college accounting and auditing courses.