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Fraud Early Warning

Designed to provide the skills required to develop fraud detection formulas used to identify fraud attacks in high volume retail payment products business involving cards, cheques / transaction accounts and funds transfers.


Program Objectives: 

  • Learn the analytical skills to evolve from using judgmental and intuitive criteria in developing fraud early warning formulas to using advanced analytical and data base management techniques;

  • Understand the need for and incorporate into their management practice, the timely updating and use of detailed fraudulent transaction logs;

  • Understand the need to create and use good (non fraudulent) transaction analysis, so that the financial and customer service impact of FEWS formulas on good transactions is understood and accounted for;

  • Develop the skills to optimally work fraudulent transaction alerts; and,

  • Understand how to organize FEWS workflows and manage and measure FEWS analysts



Target Audience                                                                   

  • Fraud manager and lead fraud analysts who need to understand how to use data base mining techniques to understand fraud attack patterns and develop early warning formulas to mitigate their impact

  • Compliance officers, internal auditors and operational risk managers


Course Delivery:

  • Core techniques:  Lecture, group exercises and case studies

  • Additional options:  computer simulation, pre-course readings, daily and final exams

  • Duration:  Two to four days, depending on topics covered and delivery methods


Course Delivery Options:


  • Client can include special topics presented by its staff

  • Use of daily and final exams to test knowledge and identify areas for special focus

  • Pre-course assignments to cover basics information outside of the classroom.

  • On-site consulting by the instructor immediately after the course or as a follow-up to the course

  • Remote follow-ups and participation by the instructor after the course

  • Train-the-Trainer of the client’s staff to conduct future offerings of the course

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