Registration from 09.30 – Start 10.00 and Finish 17.00
Introduction to Fraud
- Overview of fraud – amounts and breadth
- Wider fraud types and how they relate to asset finance
– Asset Striping (part 1)
– Missing Trader
– Organised Crime
- Activity – Fun Fraud Quiz
Back to Basics
- Definition of Fraud
- Cycle of Fraud
- Does Fraud pay?
- Activity – Profiling of fraudsters
How does fraud reduce the value of your security?
- Who is your client? A review of the issues surrounding identity of individuals and companies
– General ID issues and problems with passports
- What type of dilutions can impact on the value of your security?
– Cases covered, including Substitution of Assets, Sale of Assets, Sub-Hire Agreements and Volume Rebate Schemes
– Broker / Dealer / Supplier Collusion
- Activity – Company formation
Other data considerations
- Where can you find data out on companies and individuals? Use of Credit Reference Agencies
- How does Companies House work?
- What are the implications for manipulated data – both consumer and corporate?
– Harvested Companies
– Shadow Directors
– Made up accounts
- What other data needs to be considered? Bankruptcy and Winding Up
- Information Sharing – FLA / D&B Fraud Alert Service
- Activity – Accounts compare and contrast
Other Asset Finance frauds
- Insolvency – consumer and corporate
- PAYE / VAT Fraud
- Asset Striping (part 2)
- Activity – Asset Striping Jigsaw
- Confirmation of objective for session
- Summary and completion of feedback form