Fraud Trends for the Future - Need for Real-time Risk Assessment - Part 1 (Completed)

Date: Tuesday, May 21, 2024 Instructor: Lynn Fountain Begin Time:  9:00am Pacific Time 10:00am Mountain Time 11:00am Central Time 12:00pm Eastern Time CPE Credit:  2 hours for CPAs

To effectively perform real-time assessment on these aspects, many companies use the latest technological applications. Fraud detection systems use real-time transaction risk scoring algorithms to identify questionable purchases or payments. These systems consider transaction details, user profiles, behavioral biometrics, geolocation, IP/device metadata, account information, and more. The advancement of artificial intelligence and machine learning are also aspects that have advanced our ability to perform real-time risk assessments. We discuss these concepts and how they are used. This course focuses on step one and two when performing a real-time fraud risk assessment. Those steps include:

Step One - Planning Step Two - Identifying Risk

Future courses will cover the remaining steps in the process.

Who Should Attend
Executives; Board; Accountants; Compliance and legal professionals; Internal and external auditors

Topics Covered

• Planning a fraud risk assessment
• Identifying risk for a fraud risk assessment

Learning Objectives

• Explore and evaluate Fraud trends for 2023 and beyond
• Discover and define a Fraud Risk Assessment
• Identify components of a Fraud Risk Assessment
• Discover and define a real-time Fraud Risk Assessment
• Explore and examine methods for Step one and two of the Risk Assessment - Planning and Identify Risks
• Recognize and review of remaining steps to be detailed in another segment of this series

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Auditing (2 hours)

Program Prerequisites
None

Advance Preparation
None

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