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Procurement fraud is nothing but illegal conduct with which the offender gets an advantage, avoids a responsibility or causes damage to the organization he is working for. The common procurement fraud risks involve, external and internal supplier schemes, collusion between procurement and suppliers, P-Card Fraud: External versus Internal, abuse of bidding process and unauthorized purchases by procurement staff. The common red flags of procurement frauds are consecutive invoices from the same supplier, unusual pricing from suppliers, sudden replacement of longstanding supplier; Purchase Order doesn’t match an invoice or delivery documents, unusual
(personal) P-Card purchases, invoices missing a key detail and supplier address not matching the address on the approved supplier list. If you have experienced any of these in your organization, come join this training and to learn the fraud vulnerabilities in the procurement of materials and services in the private sector. In addition, this training program will explore the many procurement and contract fraud schemes and at what point in the procurement and contract process they occur.
Key Learning Objectives- Types of procurement and contract fraud
- Procurement and contract fraud indicators
- Procurement fraud hazard
- Prevention and detection strategies
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 | John E Grimes
John, CFE, CFI has over 45 years of law enforcement, criminal investigation, loss prevention, fraud examination experience, and teaching experience. John is the Proprietor of Fraud and Loss Prevention Solutions. |
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