Certificate in Fraud Risk Management

Enroll in the Certificate in Fraud Risk Management and take your Fraud and Investigations Career to the next level!

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Course Description

Does your organization have an effective fraud risk management program? Are you aware of all the areas in the business where fraud can occur? If not, you could be leaving your organization vulnerable to fraud.

Building an effective fraud risk management program to combat organizational fraud requires solid understanding of how and why fraud is perpetrated.

This certificate course will explore many aspects of fraud risk management. You will learn how to identify, assess and manage fraud risks, establish an anti-fraud culture and promote fraud awareness throughout your organization. You’ll also learn how to develop a system of internal controls to address specific fraud risks and take steps to respond to any identified instances of fraud.

This certificate program, which qualifies as intermediate-level training, consists of six modules on the fraud risk management Framework, which a business uses to accomplish its corporate goals while assuring the prevention and detection of fraud. This course also covers fraud-related ideas, fraud categories, fraud risk management frameworks, and fraud avoidance, detection, and investigation techniques. As you finish this course, this certificate program will essentially improve your knowledge and give you a complete understanding of this subject.

What You Will Get From This Course

In-demand Skills

Gain the relevant knowledge to ensure that you are supporting your firm and progressing your career.

Career Credential

Get a certificate from the FCA Financial Crime Academy.


Study on-demand and at your own time and pace, regardless of where you are in the world with this flexible online course.

Global Community

Get access to our exclusive LinkedIn group with 1,500+ like-minded professionals and experts.

Course Material

Download supplementary course material such as the comprehensive course study guide.

Quiz Questions

Test your knowledge with multiple-choice questions and determine which skills you have mastered!

Course Overview

Learning Objectives

  • Understand fraud and the impact of fraud on organizations
  • Learn why fraud risk management is relevant for organizations
  • DIscuss the strategic 4T approach to fraud risk management
  • Learn how to conduct an effective fraud risk assessment based on a holistic 7-step framework
  • Understand the key components of a fraud risk management program to effectively encounter fraud in organizations
  • Understand key organizational components in encountering fraud, including internal and external audits
  • Learn relevant tools and controls for operational fraud prevention

Target Audience

  • Professionals wanting to acquire and demonstrate expertise and specialized knowledge in fraud risk management
  • Professionals wanting to increase their value7 through an advanced and comprehensive understanding of fraud risk management
  • Professionals wanting to build meaningful fraud risk management knowledge to be used effectively in organizational fraud departments
  • Career starters and students wanting to get an edge in fraud risk management


For participating in this Certificate Program, you will need an electronic device with online video-viewing capabilities (e.g., smartphone, tablet, laptop, desktop computer, etc.). You will need no previous knowledge in compliance or anti-financial crime, although this is helpful. A background in business, legal, or finance might also be beneficial but is not required.

Learning Method

This Certification Program is presented entirely online. Modules can be completed in your own time and at your own pace. This interactive, supportive teaching model is designed for busy professionals and results in unprecedented certification rates for Certification Programs.

Course Curriculum

Introduction to the Program

  • Introduction to the Program

Module 1: Overview of Fraud and Risk Management

  • Introduction to This Module
  • What is Fraud – its Extent
  • What is the Scale of The Problem?
  • Why is Fraud Committed?
  • Different Types of Fraud Schemes
  • Impact of Fraud on Organization
  • Case Study – a real-life case of fraud that happened in an organization
  • Module Summary
  • Multiple Choice Quiz

Module 2: Understanding Fraud Risk Management

  • Introduction to This Module
  • What is Fraud Risk Management?
  • Strategic Fraud Risk Management and the “4Ts” Approach
  • Risk-Based Approach to Fraud Risk Management
  • Module Summary
  • Multiple Choice Quiz

Module 3: Fraud Risk Assessment Framework

  • Introduction to This Module
  • Overview 7-Step Fraud Risk Assessment Framework
  • Step 1: Identify potential inherent fraud risks and schemes
  • Step 2: Assess the likelihood of identified inherent fraud risks
  • Step 3: Assess the impact of identified inherent fraud risks
  • Step 4: Evaluate which people and departments are most likely to commit fraud
  • Step 5: Identify and map existing controls to relevant fraud risk
  • Step 6: Evaluate whether the identified controls are operating effectively and efficiently
  • Step 7: Identity, evaluate, and respond to residual fraud risks that need to be mitigated
  • Module Summary
  • Multiple Choice Quiz

Module 4: Fraud Risk Management Program

  • Introduction to This Module
  • Overview 8-Step Fraud Risk Management Program Framework
  • Step 1: Define program objectives
  • Step 2: Assess fraud risks
  • Step 3: Design program components
  • Step 4: Implement program components
  • Step 5: Communicate expectations
  • Step 6: Ensure compliance
  • Step 7: Identify and investigate violations
  • Step 8: Measure, evaluate, and report program effectiveness
  • Module Summary
  • Multiple Choice Quiz

Module 5: Fraud Control

  • Introduction to This Module
  • Overview of Internal Controls
  • Control Characteristics
  • Role of Audit in Fraud Prevention and Detection
  • The External Audit
  • The Internal Audit
  • Module Summary
  • Multiple Choice Quiz

Module 6: Fraud Prevention

  • Fraud Prevention Controls
  • Key Aspects of Prevention – Generic Controls
  • The Six Key Fraud Prevention Controls
  • Module Summary
  • Multiple Choice Quiz

Final Assessment

  • Final Assessment

Certification Track

Complete all courses of the certification track to become a Certified Audit and Investigations Professional (CAIP).

Fca027 Certificate In Digital Forensics And Ediscovery
Fca010 Certificate In Fraud Risk Management
Certificate In Fraud Detection And Investigation Foundations
Fca009 Certificate In Internal Investigations
Fca014 Certificate In Forensic Accounting
Fca004 Certificate In Internal Audit

Ready? Get unlimited access to all courses and webinars by joining our membership today!

Frequently Asked Questions

What are the requirements to take the courses?

All of our certification programs are open to students and professionals in various industries and levels of experience. Our curriculum is designed to teach what you need to know from basic fundamentals to advanced practical case studies. To take the courses and complete the exercises, students will only need access to a PC and/or Mac, a smartphone or table, and a stable internet connection.

Can I download course files and resources for the course?

Absolutely! All the files (including study guide, audiobook, course slides, etc.) in a course are available for download. Just look for a module that shows the files within a course.

How long do I have to complete the courses?

You will have yearly access to the courses as long as you maintain an active subscription. All the courses are self-paced as well so you can take your time in learning without worrying about any deadlines.

Are there any additional fees or costs?

None! The bundle price includes everything and there are no additional fees or charges to earn your digital certification.

What currency are your courses priced in?

All our online courses are priced in USD. As this is a recurring payment, we accept all major credit and debit cards including Visa, MasterCard, and American Express.

How do I earn my certificates?

Students must complete all the video lessons, quizzes, and final assessments in each course. You can retake the assessments as many times as necessary until you reach an 60% passing grade.

How are the exams conducted?

Students are required to complete an online assessment (mostly multiple choice questions) at the end of each course. You can take the exams on your own schedule and will need to earn at least 60% to pass the course and earn your certificate of course completion. Please note that course exams can be repeated as many times as you need.

Can I email the instructor if I have questions?

While the courses are designed mainly for self-study, we are happy to provide email assistance for general or technical support inquiries.

Will these courses help me advance my career?

Based on hundreds of reviews from thousands of students we know how the Financial Crime Academy’s courses have helped so many people advance their anti-financial crime, compliance, and risk management careers. Our courses are designed to teach in-demand skills and relevant background knowledge of subject matter expertise needed in practice.

More Questions?

Email us and we'll be happy to answer any of your questions.

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