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I. FRAUD RISKS & FRAUDSTER: CAUSES, IDENTIFICATION & EVALUATION

Learning objectives: The aim of the course is to introduce and sensitise participants to common crime patterns, opportunities for crime, and motivating factors. This increases awareness toward anomalies in professional auditing practice. In order to plan and implement effective audits, reporting processes and preventive measures, it is imperative to understand the factors which trigger fraud. After completing the course, participants should be able to make a well-founded and effective assessment of the risks which could lead to fraud.

Content: Seeing fraud from the perspective of white-collar criminals and coming to “understand” the approach taken by fraudsters can be helpful for example in assessing control strategies and determining test steps.

• Practical explanatory approach, recurring patterns and special characteristics of white collar crime in companies
• Fraudsters and their thought patterns, opportunities, motives and other triggers for fraud
• Efficient and inefficient controls, increased risk situations which are often underestimated
• Assessment of the efficacy of preventative measures

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Further trainings:

II. RED FLAGS – RECOGNISING COVER-UPS

III. FIGHTING FRAUD & CORRUPTION IN THE PUBLIC SECTOR

• Official Bulletin (in German) or
• Executive Education EXPERTsuisse (in German)

Learning objectives: The aim of the course is to introduce and sensitise participants to common warning signals (Red Flags) in people’s behaviour, in written and verbal statements, and in data material. When practicing deception, offenders virtually always display tell-tale signs. Fraud risk factors are explained and assessed using well-researched methods. This in turn enables you to take effective preventative action. Once you have completed this course of training, you will be able to pinpoint and correctly interpret anomalies and red herrings in auditing – right from the early stages.

Content: From audit planning through to audit talks, analytics and the final audit report, understanding and recognising early warning signals and risk factors is a huge advantage.

• Common cover-ups in data material and behaviour
• Analysing statements: what spoken and written words unintentionally reveal
• Situational factors that indicate an increased fraud risk
• Applying the latest research findings directly to auditing practice

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The book shows practically how to lower the liability, asset and reputation risks associated with fraud. In developing internal systems for recognising and preventing fraud, it is decidedly advantageous to understand the approach taken by the offenders. Readers can benefit from practical content and excerpts from interviews with convicted fraudsters – “straight from the horse’s mouth”, so to speak.

• How to protect assets, limit liability and build a strong reputation
• Economic crime in everyday business life
• When and why employees commit white collar crimes
• Best practices for prevention

Inquiries to Schuchter

Fraud causes considerable damage. An in-depth analysis of the root causes offers potential for combatting fraudulent behaviour in a targeted manner. Hence a scientific, explanatory approach provides a theoretical basis on which to work. In the course of an empirical study, Schuchter visited fraudsters.

According to the fraudsters, opportunity is the sole imperative precondition for perpetrating a crime, whereby pressure can also make a significant contribution in tipping the balance. The most effective preventive measures are named as being efficacious controls, competent and mindful managers, qualified supervisory bodies, external and neutral professionals and regulation by the state.

Inquiries to Amazon or Schuchter

Nowadays, the relevance of Compliance extends far beyond the borders of the financial services sector. It has become a subject of interest for industrial and commercial companies as well as service providers outside the world of finance. Money laundering, corruption, cartel deals and data protection are phenomena which present risks to all types of businesses. Hence Compliance Management needs to control and promote the correct conduct of employees.

Participants: Compliance, internal audit, public accountants, supervisory boards, C-suite, risk officers, crime risk controllers, in-house lawyers and legal practitioners.

Link to the Programme

To keep corruption at bay, Schuchter believes the solution lies in explaining and raising awareness for the risks. Employees and civil servants should be in a position to recognise the earliest warning signals for corruption. Schuchter does not agree with the demand for increased controls. “Too many controls can have the opposite effect.” They undermine trust in the employees and increasingly prevent people from using their own brains. As such, they are unlikely to lead to a decrease in the number of corruption scandals, Schuchter claims.

Link to the Interview

They’ve cheated their employers out of millions, falsified the balance sheets and bribed their business partners. Alexander Schuchter, lecturer and researcher at St. Gallen University and corporate consultant, has interviewed hundreds of small-scale and large-scale fraudsters. He can draw psychographs of white collar criminals like those named in the Paradise Papers. The problem: The fraudsters of this world can win the trust of those around them with playful ease. But companies can protect themselves against such persons! A discussion on power, morals and those who just “go with the flow”.

Link to the Interview

During the Actelion takeover, one of the professionals involved made an illegal attempt to enrich himself – and was exposed. Why do managers risk their reputation and their career? … This manager ruined his career and reputation for 10,000 Swiss Francs.

For more than ten years, Alexander Schuchter from St. Gallen University has been researching white-collar crime. He claims that “soft factors” frequently play a role in minor white-collar crime. These include not receiving sufficient respect and acknowledgement within the company, a decline in the level to which individuals identify with their company, but also pride and arrogance…”

Link to the Video Interview