Preventing Financial Crime

by John Taylor
access120 days access
cpd hours4 CPD hours

This course will enable you to:

  • Understand the range of financial crimes which can be committed, as well as the motives and profiles of those likely to commit them
  • Gain comprehensive skills in risk management and improve your assessment of risk factors
  • Identify how to properly approach and report financial crimes
  • Develop an effective policy for IT system risks
  • Know how to influence ethical behaviour and create the right kind of corporate culture

Financial crime can be committed by anyone in an organisation, who is motivated by some need or desire, prepared to rationalise their actions, and thinks they won't get caught. It can also be committed by external sources through malware attacks, therefore having an understanding of this area is crucial for protecting your organisation.

This course will enable you to understand the various types of financial crime and the controls that can be used to limit the opportunities for fraudsters to commit them. More importantly you will look at how to create the right culture within an organisation to not only discourage collusion in fraud but also to encourage reporting and disclosure. You'll be able to implement strategies for risk management and responding to financial crime, as well as how to protect your organisation's IT system.

Defining financial crime

  • What is financial crime?
  • The cost of fraud
  • Management fraud
  • Individuals and financial crimes
  • Money laundering
  • Bribery and corruption
  • FATF and the law

Organisation wide approaches

  • Corporate culture
  • Financial crime within organisations
  • Safeguarding against misconduct
  • Policies and procedures
  • The role of audit

Individual financial crimes

  • Criminal motivations
  • Accounting aspects
  • The control environment
  • Monitoring controls

Risk management and control

  • Inherent risk
  • Risk management
  • Risk management approaches
  • Internal controls and risk
  • CRSA and ERM
  • Responding to financial crime

IT approaches to fraud prevention

  • Assessing IT system risks
  • Protecting IT systems
  • Policy and procedure
  • Areas of vulnerability
  • Cloud computing
  • Formal risk management
  • Forensic readiness

John is a Chartered Accountant who spent many years advising small and medium-sized businesses across the North of England. He specialised in dealing with the particular problems faced by large family-owned companies. John joined Bradford College where he taught a wide range of students from diverse backgrounds and with varying levels of ability. John later joined Leeds Met University where he specialised in teaching auditing on ACCA professional courses and Forensic Accounting at Masters level. He is now a freelance author and lecturer.

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ACCA partner with to provide high quality CPD for members. As an ACCA member, you are required to complete at least 40 relevant units of CPD each year, where one unit is equal to one hour. 21 units must be verifiable; the other 19 can be non-verifiable.

Verifiable CPD
Your course counts as verifiable CPD, if you can answer "yes" to these questions:

  1. Was the learning activity relevant to your career?
  2. Can you explain how you will apply the learning in the workplace?

You select courses that meet these criteria, and as you complete each course you get a CPD certificate so you can provide ACCA with the evidence that you undertook the learning activity.