Fraud Trends for the Future - Need for Real-time Risk Assessment - Part 1 (Completed)
Date: Tuesday, May 21, 2024
Instructor: Lynn Fountain
Begin Time: |
9:00am Pacific Time 10:00am Mountain Time 11:00am Central Time 12:00pm Eastern Time |
CPE Credit: |
2 hours for CPAs |
|
To effectively perform real-time assessment on these aspects, many companies use the latest technological applications. Fraud detection systems use real-time transaction risk scoring algorithms to identify questionable purchases or payments. These systems consider transaction details, user profiles, behavioral biometrics, geolocation, IP/device metadata, account information, and more.
The advancement of artificial intelligence and machine learning are also aspects that have advanced our ability to perform real-time risk assessments. We discuss these concepts and how they are used. This course focuses on step one and two when performing a real-time fraud risk assessment. Those steps include:
Step One - Planning
Step Two - Identifying Risk
Future courses will cover the remaining steps in the process.
Who Should Attend
Executives; Board; Accountants; Compliance and legal professionals; Internal and external auditors
Topics Covered
- Planning a fraud risk assessment
- Identifying risk for a fraud risk assessment
Learning Objectives
- Explore and evaluate Fraud trends for 2023 and beyond
- Discover and define a Fraud Risk Assessment
- Identify components of a Fraud Risk Assessment
- Discover and define a real-time Fraud Risk Assessment
- Explore and examine methods for Step one and two of the Risk Assessment - Planning and Identify Risks
- Recognize and review of remaining steps to be detailed in another segment of this series
Level
Basic
Instructional Method
Group: Internet-based
NASBA Field of Study
Auditing (2 hours)
Program Prerequisites
None
Advance Preparation
None