Fraud's Role in the Financial Crisis and How to Control It 2015

Key Topics

• The fraudulent lending practices that engulfed the entire US mortgage industry, leading to the fatal deterioration of balance sheets and ultimate collapse of major players such as Washington Mutual, Wachovia, as well as untold thousands of unscrupulous mortgage brokers, appraisers and law firms
• The culture of "anything goes" on Wall Street which fueled the innovation of exotic asset-backed securities whose riskiness and questionable legality went either unaddressed or underestimated to the devastating disadvantage of institutions that invested in them
• The widespread fraudulent marketing of asset-backed securities, based on exaggerated or completely fictitious representations of risk levels, including the stunning indictments of two highly regarded Bear Stearns traders
• The looting of major financial firms such as Lehman Brothers, Merrill Lynch and others by their former senior executives just before the companies collapsed
• The latter part of the presentation will address options for preventing similar disasters from recurring and will provide attendees with practical guidelines for protecting themselves and their companies from various forms of fraud that were found to have played a role in the current economic and financial crisis

Who should Attend

• Accounts payable managers
• Purchasing managers and senior staff
• Accounting and audit practitioners
• Shipping and receiving/supply chain managers
• Controllers
• CFOs and senior finance staff
• Senior financial management seeking to reduce their vulnerability to costly frauds
• Procurement executives
• Security personnel
• Compliance and ethics managers
• Loss prevention and risk specialists
• Internal control professionals
• Procurement/purchasing and payables specialists
• Fraud examiners