Fraud in Financial Services

A comprehensive course covering the nature, scale, and types of fraud in financial services; the fraud–money laundering relationship; how fraud is detected and prevented; employee responsibilities and reporting obligations; real-world case studies; and emerging threats, including AI-enabled fraud.

By the end of this course, the learner will be able to:

• Define fraud and distinguish it from error and negligence in a financial services context

• Identify at least six types of fraud commonly encountered in financial services and describe how each operates

• Explain the Fraud Triangle (pressure, opportunity, rationalisation) and apply it to workplace scenarios

• Describe the relationship between fraud and money laundering, including how fraud proceeds are laundered through the financial system

• Recognise behavioural, transactional, and documentary red flags that may indicate fraudulent activity

• Outline the key internal controls and prevention strategies that reduce fraud risk in financial institutions

• State the correct procedure for reporting suspected fraud, including SAR obligations and whistleblower protections

• Analyse real-world fraud cases to identify the failures in controls and oversight that allowed them to occur

• Describe emerging fraud threats, including AI-enabled fraud, synthetic identity fraud, and real-time payment fraud

• Section A - Understanding Fraud

  • Module 1: Introduction 

  • Module 2: Why This Matters 

  • Module 3: What It Is and What It Isn’t

  • Module 4: Types of Fraud in Financial Services

  • Module 5: The Fraud–Money Laundering Connection

• Section B - Detection, Prevention & Your Responsibilities

  • Module 6: Red Flags and Warning Signs

  • Module 7: Controls and Culture

  • Module 8: Reporting and Whistleblowing

  • Module 9: Real-World Case Studies

  • Module 10: Emerging Threats and Looking Ahead

  • Module 11: Summary

Staff working in financial services (banking, insurance, investment, payments); compliance and risk professionals; anyone with a role in handling client assets or transactions

+/- 1:30 (licence remains active for 6 months).

There is a 10-question knowledge check at the end of the e-learning course with a standard pass mark of 80% and unlimited attempts. The 10 questions are drawn randomly from a larger bank of questions. Each attempt will draw a different mix of questions.