Global Investment Performance Standards (GIPS)

The key objective of this Fraud and Risk Management System in Banking Sector course is to empower professionals to—
• understand and be aware of fraud and risks that could cause great harm and losses to financial organisations
• be capable of handling advanced technological systems to track and record information and predict fraud or other risks to the organisation
• define robust processes to be followed to not leave any gap in operations that could promote fraud and other activities
• devise, document and implement organisation-wide protocols and guidelines for operations to mitigate any chances and minimise avenues for fraudulent activities, thus building a strong fraud and risk management system
• spread awareness through training of other professionals on fraud and risk management
• take timely and appropriate decisions in case a fraudulent activity takes place in one’s organisation, to prevent damage to property, employee safety and welfare, customer satisfaction or otherwise
• confidently accept higher roles and responsibilities requiring close supervision of end-to-end operations to prevent fraud in one’s organisation, therefore accepting numerous opportunities for career progression
• contribute to organisational credibility and development through successful and stringent fraud management systems
• thoroughly understand fraud and other risks in the banking sector to handle related responsibilities in any organisation within the sector, enabling greater scope for growth

Course Content
Types of Banking Risks
• Credit risk
• Market risk
• Operational risk
• Liquidity risk
• Business risk
• Reputational risk
• Systemic risk
• Moral hazard
Broad Categories of Attacks or Fraud
• Session stealing
• Man-in-the-middle fraud
• Key loggers
• Phishing
Principles of Effective Fraud Risk Management
• Fraud risk governance
• Fraud risk assessment
• Fraud prevention
• Fraud detection
• Monitoring and reporting
Types of Fraud Risk Management
• Preventive fraud risk management
• Detective fraud risk management
• Responsive fraud risk management
Essential Steps in Fraud Risk Assessment
• Plan
• Identify
• Assess
• Prioritise
• Communicate
• Implement
• Monitor
Factors Providing Opportunities for Fraud
• Inability to judge performance quality
• Failure to discipline fraud perpetrators
• Lack of access to information
• Ignorance
• Apathy
• Incapacity
• Lack of audit trails
Fraud Prevention Mechanisms in the Banking Sector
• Multi-factor authentication
• Transaction monitoring
• Employing dual or triple controls
• Raising fraud awareness
• Reconciling business/corporate accounts daily
Analytical Techniques to Detect Fraud
• Classification
• Statistical parameters calculation
• Numbers stratification
• Joining random diverse sources
• Duplicate testing
• Gap testing
• Entry date validations
• Numeric values summation
Benefits of a Good Fraud Management System
• High fraud detection rates
• Protection of customers from fraud
• Protection of banks’ market share
• Monitoring of user behaviour
• Case management tools
• Threat assessments
• Anti-fraud measures

METHODOLOGY
The training methodology integrates lectures, interactive discussions, collaborative group exercises, and illustrative examples. Participants will acquire a blend of theoretical insights and hands-on practical experience, emphasizing the application of learned techniques. This approach ensures that attendees return to their professional environments equipped with both the competence and self-assurance to effectively implement the acquired skills in their responsibilities.

DATE:
1ST BATCH: 21st – 24th Jan,2025
2ND BATCH: 20th – 23rd May,2025
3RD BATCH: 7th – 10th Oct,2025