T & E Expense Reimbursement Fraud: Keys to Detect, Prevent & Deter
Expense reimbursement fraud represents over 14% of all employee fraud! This costs companies a median loss of $26,000 per incident, leading to millions of dollars in losses for organizations every year. Often small fraudulent charges, like claiming a personal meal or pay-per-view movie, are overlooked. However, these “immaterial” claims add up and the cumulative costs can’t be underestimated.
Join our 90-minute webinar to learn how to put effective policies in place that prevent travel and entertainment fraud and stop wasting thousands is company dollars. Plus, discover effective techniques for spotting red-flags for fraud, fraud-audit techniques, proven anti-fraud controls. We’ll cover:
- Most-common types of travel, entertainment & procurement frauds
- Spot red flags of T&E fraud in your company
- Effective detection techniques you can implement
- Keys to determine how vulnerable your organization is
- Anti-fraud control strategies & tools to prevent reimbursement fraud
Common Types of T&E Fraud Companies Face Today
- Falsifying T&E reimbursement schemes with bogus receipts
- Submitting T&E claims multiple times
- Abuse of corporate/P-card for personal gain
- Claiming for expenses just under the limit requiring approval
- Purchasing more than needed (e.g. office supplies)
- Exploiting AP/Disbursements control weaknesses
Red-flags Reimbursement Fraud & Fraud Detection: What to Watch For
- Specific red flags of each of the common expense reimbursement frauds
- The Fraud Risk Mitigation Cycle
- How T&E Frauds Are Most Often Detected
- Additional General Detection Methods
- Data Mining/Analytics for fraud detection
- Examples of Fraud Audit Techniques at Work
Anti-fraud Controls You Can Use: Preventions that Work
- Implementing a system for detecting, preventing and investigating fraud
- Internal Controls and other T&E fraud prevention measures
- Who should manage Anti-Fraud activities?
- Internal Controls do’s & don’ts you need to know
- General controls: Segregation of Duties, Delegation of Authority, Background Investigation
Question and Answer Session - Hear expert answers to real-world questions!
About the Speaker
Peter Goldmann is President of FraudAware LLC, developers of FraudAware, the leading fraud awareness training program.
- Peter is the author of Fraud in the Markets: Why it Happens and How to Fight It, published by John Wiley & Sons. The book is an in-depth account of the role that fraud played in bringing about the financial crisis of 2008.
- Peter is also the author four other anti-fraud books covering accounts payable fraud, accounts receivable fraud, as well as two workbooks on fraud risk and control, also published by Wiley.
- 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, privately owned businesses, NGO’s and government agencies.
- Peter has 25 years of experience as a business journalist and trainer, having launched, edited and published numerous business trade periodicals covering small business, international trade, management strategy, banking and personal finance. He is a Certified Fraud Examiner (CFE) and a member of the Editorial Advisory Committee of the Association of Certified Fraud Examiners (ACFE) as well as the IOFM Controller Certification Advisory Board.
In this 90-minute program you’ll learn expert techniques to spot, prevent and deter T & E fraud from happening in your organization.