Online Programme: Understanding Fraud in Asset Finance

Start 10.00 - Finish 16.00

• Introduction to Fraud

• Overview of fraud in Asset and Motor finance
o Definition of Fraud
o General statistics and size and scale of problem in industry
o What kind of person commits fraud?

• Fraud types – what are they and what do they mean?
o Counterfeiting
o Asset Stripping
o Carousel Fraud
o Organised Crime
o Cyber Security and Risk
o Identity Theft
o Insolvency and discovering fraud

• Back to Basics
o Know your client – ID issues.
o Underwriting checks and common signs/ the sniff test
o Common examples of simply frauds in Asset Finance transactions.

Substitution of assets
Sale of Assets
Sub Hire Agreements
Sale and Leaseback
Volume rebate
Misdescription of asset
Dual financing
Title issues

o QUIZ and CASE STUDY in groups.


• Data Considerations and reporting
o Companies House
o Where to find data on individuals
o Manipulated data to include company hijack
o Information sharing and reporting
o Useful agencies and contacts

• How to make a recovery when Fraud is discovered
o Civil versus criminal
o Legal proceedings
o Injunctive relief
o Piercing the corporate veil and pursuing Directors

• Fraud Prevention within your organisation

• General question and answer session