Fraud in Financial Services

How long does the training course last?

1,50 hours(s)

In which language(s) is the training course taught?

When will the next session take place?

Who is organising this training course?

Fondation créée en 2015 par la Chambre de Commerce et l’Association des Banques et Banquiers Luxembourg (ABBL), la House of Training est un organisme agréé de formation professionnelle continue qui s'engage à contribuer activement à la compétitivité et à l'attractivité du Luxembourg en développant les compétences de ceux qui font vivre son économie.

What are the aims or the skills being targeted?

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

What does the training course cover?

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

What other information is useful to know?

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.