CFFE Module III
Workshop on Fraud Investigations and Prevention flashcards
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Complete Flashcard Reference
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What does the workshop mean by saying technology changes a scheme's delivery mechanism, not its legal character?
Technology changes how a scheme is delivered far more often than its underlying legal or accounting character. A business email compromise is still, legally, fraudulent misrepresentation executed by new means. So analyse the underlying scheme first, then note the technology as the way it was delivered.
What does mobile money and payment system fraud cover, and why does it matter so much in Kenya?
SIM-swap fraud, agent collusion and instant-payment schemes. It is especially significant in Kenya because the economy is mobile-money-driven: a large share of everyday transactions flows through mobile money rails, giving this fraud disproportionate impact.
What is the governance-led approach to fighting fraud and corruption?
Fraud risk management owned visibly at board level, not delegated invisibly to a single compliance officer.
Why does best practice call for layered controls?
Preventive, detective and corrective controls work together, because no single control type is sufficient alone.
How should an emerging fraud trend be connected back to the fraud triangle?
Ask what new pressures, opportunities or rationalisations the trend introduces.
Why are protected reporting channels treated as a best-practice pillar?
Whistleblower mechanisms, maintained and genuinely trusted, are consistently the most effective real-world detection method.
In what order does a workshop report run?
1. Executive summary. 2. Introduction and scope. 3. The trends: scheme, evidence, drivers and the Kenyan instance. 4. Best practice: framework, tool or institution, evidence that it works, and its application in Kenya. 5. Recommendations, specific and owned. 6. Conclusion. 7. References.
What is AI-enabled deception as a current fraud trend?
Deepfake audio or video and AI-generated content used in social engineering and impersonation schemes.
Why must best-practice recommendations be proportionate?
They should fit the organisation's size, risk appetite and resources. A control framework appropriate for a listed bank is not automatically appropriate for a small NGO, which should apply the same underlying principles scaled to its own size rather than import the bank's framework wholesale.
What is evidence discipline, and why does it apply from the first investigative step?
Every investigative step is conducted with eventual legal proceedings in mind, so findings are never wasted through poor evidence handling. At the outset it is often impossible to know whether a matter will end in internal discipline, civil recovery or criminal referral, and evidence compromised early cannot be fixed later.
Name the seven current fraud and corruption trends the workshop covers.
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What does digital and cyber-enabled fraud include, and what does it exploit?
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How do remote work and reduced oversight widen the opportunity for fraud?
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What makes current financial statement fraud more sophisticated?
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Why is cross-border and organised fraud a growing challenge?
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Why are cryptocurrency and digital assets a distinct trend, not just another money laundering method?
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How should an examiner analyse a deepfake-based impersonation scheme?
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What makes a discussion of current trends score well in the workshop?
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How does digital and cyber-enabled fraud differ from mobile money and payment system fraud?
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List the eight best-practice pillars in fighting fraud and corruption.
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What is risk-based resource allocation?
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What does culture over compliance mean as a best-practice pillar?
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Why do ethical culture and protected reporting channels work together rather than as substitutes?
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What is a rehearsed response?
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What does the continuous adaptation pillar require?
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What does the best-practice topic draw on?
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What do examiners look for in a workshop answer on best practice?
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How should international instruments and Kenyan statutes fit into a best-practice programme?
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Beyond a fixed annual schedule, what should trigger an out-of-cycle review of a fraud programme?
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Highland Microfinance Bank lost KES 340 million to two schemes, KES 210 million of it to a business email compromise. How much did the SIM-swap fraud cost?
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In the Highland Microfinance Bank case, what breaches the governance-led approach, and what is the fix?
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Highland Microfinance Bank splits its control budget equally across nine departments. What pillar does this breach, and what is the fix?
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How should Highland Microfinance Bank fix a tick-box culture in which policy training is completed for form only?
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Why is a whistleblower line with no reports in three years, alongside staff fear of retaliation, a red flag?
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What made Highland Microfinance Bank vulnerable to the business email compromise?
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What made Highland Microfinance Bank vulnerable to the SIM-swap scheme?
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What did Highland Microfinance Bank risk by handling the business email compromise ad hoc, with no tested response plan?
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What should a rehearsed fraud response plan provide when a fraudulent payment is discovered?
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Which Kenyan instruments form the legal backbone of Highland Microfinance Bank's remediated fraud programme?
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How is the Workshop on Fraud Investigations and Prevention assessed?
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Which sources carry weight when researching current fraud trends?
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What should every trend in the workshop report carry?
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How should the workshop presentation be built and delivered?
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What separates a weak recommendation from a strong one in the workshop report?
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Why must the workshop report use this year's figures?
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