Asset Fraud Prevention and Detection
- Nov 7, 2023 8:00 a.m.
- Central Time (CT)
Protecting assets is a top concern for many organizations, as those assets move through the supply chain and eventually to the consumer. The impact of product losses due to theft and fraud extends well beyond just the replacement cost of the asset, including lost sales, increased demand for supplies, and other economic disruptions. In this course, you will learn where and how asset fraud can occur throughout the product lifecycle. You will also learn what organizations can do to deter and prevent fraud and how to detect it when it happens.
Identify where vulnerabilities are most likely to exist in the supply chain.
Recognize common inventory and fixed asset fraud schemes.
Prevent and detect common inventory and fixed asset fraud schemes.
Identify third-party risks in the supply chain.
Determine current trends and approaches used by organized retail criminals.
Apply best practices for monitoring and detecting retail location fraud.
|Delivery Method:||Group Internet Based|
ACFE Members: $395
Early Registration Deadline: October 9, 2023
Register by the Early Registration Deadline to SAVE $100!
Inventory theft can take the form of unconcealed larceny, asset requisition and transfer schemes, purchasing and receiving schemes, or fake sales and shipments. In this session, you will learn about the various touchpoints in the inventory and warehousing process that perpetrators exploit to commit their frauds.
Once inventory has been stolen, the perpetrator usually takes steps to conceal the theft and reduce the chance that the scheme will be detected. Explore some of the most common concealment methods, including altered records, fictitious sales and accounts receivable, inventory write-offs and physical padding.
Detecting inventory schemes requires spotting the red flags of the theft, the concealment or both. In this session, you will learn numerous techniques that can be used to identify the warning signs that something is amiss in the inventory process or records.
While most asset fraud involves inventory or smaller items, fixed assets, such as buildings or large equipment, can be the target of fraud as well. In this session, you will explore the various ways fraudsters misappropriate fixed assets, as well as ways to prevent and detect these schemes.
From collaborative shoplifting schemes to sophisticated cargo theft, organized retail crime can result in significant losses to organizations. Learn how these schemes can be exacerbated by social engineering, as well as specific geographic concerns. You will also hear methods that can be used to protect against these types of crimes.
Supply chain disruptions create challenges for businesses—and opportunities for fraudsters. This session will discuss the ways that assets are stolen at various points in the supply chain, factors that can increase supply chain risks and techniques that help prevent and detect against supply chain fraud.
Retail storefronts contain numerous touchpoints that are susceptible to fraud—from employee theft to self-checkout manipulation. In this session, you will discuss the types of fraud risks present in retail locations, as well as ways to protect against and monitor for any attempted fraud schemes.
Organizations can implement targeted controls to help guard against the risk of asset fraud, from setting up a strong control environment with appropriate levels of access controls to separating key duties throughout the inventory and warehousing processes. This session will explore ways to prevent asset theft and misuse throughout the organization, and will discuss techniques, such as inventory counts and analytical review procedures, that can help spot the red flags of any schemes that might occur.
Founder and Managing Partner
Payment must be received by October 9, 2023 to receive early registration discount.
Our cancellation policy is intended to keep costs low for attendees. Due to financial obligations incurred by the ACFE, Inc., you must cancel your registration prior to the start of the event. Cancellations received less than 14 calendar days prior to an event start date are subject to a $100 administrative fee. No refunds or credits will be given for cancellations received on or after the start date of the event. Those who do not cancel and do not attend are responsible for the full registration fee. Should an event be cancelled or postponed by the ACFE due to unforeseen circumstances, the ACFE will process a full refund of registration fees within 30 days of such circumstances becoming known. The ACFE will attempt to notify affected customers by phone and email after it determines cancellation is necessary.
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The Association of Certified Fraud Examiners, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.