Occupational Fraud: Why Every Senior Financial Professional Should Be Aware

The video emphasizes the importance of fraud awareness for senior finance professionals, highlighting the common misconception that fraud cannot occur within one's own organization. It presents alarming statistics on the financial impact of fraud, including a global loss of 5% of revenues annually. The course focuses on occupational fraud, which involves deception by trusted employees, and aims to raise awareness of various fraud schemes, the psychology of fraudsters, and effective anti-fraud controls. The course also covers detection, prevention, and prosecution of fraud, urging participants to change their perception of fraud and recognize its potential occurrence in their organizations.

Why do many senior finance professionals overlook the topic of fraud?

• They believe it is not relevant to their organization.

• They are too busy with other responsibilities.

• They lack the necessary training.

• They think it is a minor issue.

What percentage of revenues is estimated to be lost to fraud annually?

• 10%

• 15%

• 5%

• 2%

How long does the average fraud last before being detected?

• 18 months

• 24 months

• 6 months

• 12 months

What is a key characteristic of occupational fraud?

• It is usually accidental.

• It is always committed by a single employee.

• It involves external hackers.

• It is an intentional act of deception.

What is the focus of this course?

• Improving sales techniques.

• Enhancing customer service skills.

• Understanding and preventing occupational fraud.

• Preventing shoplifting and external theft.

Which of the following is NOT a course objective?

• Learning about anti-fraud controls.

• Understanding the psychology of fraudsters.

• Raising awareness of fraud schemes.

• Developing new marketing strategies.

What is challenging about the subject matter of this course?

• Changing perceptions about fraud.

• The length of the course.

• The technical complexity.

• The cost of the course materials.