Detecting and Preventing Cash Frauds

This online course provides a clear and practical examination of one of the most common and costly forms of occupational fraud: cash fraud. Because cash is highly liquid, easily concealed, and frequently handled across business functions, it remains a top target for internal and external fraudsters. The ACFE estimates that organizations lose approximately 5% of annual revenue to fraud—much of which involves cash‑related schemes.

In this course, participants will explore real‑world examples showing how cash frauds are committed, concealed, and ultimately uncovered. The program covers key red flags, detection methodologies, counterfeit‑currency risks, money‑laundering considerations, and the internal control structures required to safeguard cash. Attendees will learn how to build stronger fraud‑resistant processes and gain the knowledge needed to identify and respond effectively to cash‑related risks.

Who Should Attend
This course would be appropriate for CPAs, CFEs, CFFs, MAFFs, CIAs, CMAs, CFOs, CEOs, internal auditors, external auditors, government accountants and others interested in exploring ethics. This course is ideal for professionals responsible for safeguarding financial assets, detecting fraud, or overseeing internal controls.

Topics Covered

• Overview of occupational fraud and its impact on organizations
• Cash fraud schemes and how they are commonly perpetrated
• Counterfeit currency trends and fraud‑detection considerations
• Money‑laundering risks associated with cash transactions
• Internal controls for cash accounts, including segregation of duties, oversight, and reconciliation processes
• Fraud‑risk indicators, documentation review techniques, and investigative approaches

Learning Objectives

• Identify common red flags that signal potential cash fraud
• Design internal controls to prevent cash fraud in business operations
• Apply effective detection methodologies to uncover cash‑related fraud
• Identify the COSO component referred to as the “tone at the top”
• Identify the U.S. bill most frequently counterfeited

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Accounting (2 hours)

Program Prerequisites
None

Advance Preparation
None