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Common Fraud Schemes I


This course will introduce the learner to common fraud schemes and how thieves profit from preying on vulnerable consumers. The course will provide a comprehensive overview of identity theft, phishing and vishing, impersonators, kiting, embezzlement, and other types of fraud. Upon completing this course, the learner will be able to:

  • Recognize red flags of various types of fraud
  • Address red flags by adhering to reporting requirements and other preventative actions.
  • Understand the implications of fraud, such as identity theft, impersonation, money laundering, and more.


T1. Identity Theft: This topic will help the learner understand the crime of identity theft by describing the scheme and how thieves profit from identity theft.

T2. Phishing and Vishing: This topic will teach the learner about phishing, a cybercrime where thieves steal sensitive private account information for criminal purposes, and vishing, which is a variation on the phishing email schemes, so that s/he understands the warning signs and ways to prevent the crimes.

T3. Impersonators: This topic will teach the learner how to recognize impersonators looking to scam and deceive people and will prepare the learner to handle impersonators should s/he come across one.

T4. Kiting: This topic will teach the learner about the crime known as kiting, which involves depositing and drawing checks at two different financial institutions.

T5. Embezzlement: This topic will familiarize the learner with the crime known as embezzlement, which is a type of fraud, by defining the crime and providing information for recognizing and preventing embezzlement.

T6. Money Laundering: This topic will provide the learner with an introduction to the crime of money laundering, an act or attempt to disguise the source of money or assets derived from criminal activity, by providing the goals of money launderers and the steps of money laundering.

T7. New Account Fraud: This topic will introduce the learner to the potential for new account fraud, which s/he might encounter when a customer opens an account for the first time, and how to best recognize and combat this crime.

T8. Internet Fraud: This topic will teach the learner about internet fraud that s/he might encounter while doing his/her job at the financial institution, the topic includes a discussion of the red flags that indicate internet fraud and the best ways to prevent the crime from occurring.

T9. Mortgage Fraud: This topic will teach the learner about mortgage fraud, which involves fraud related to obtaining a loan to secure a home, and go over such topics as mortgage fraud statistics, mortgage fraud schemes, and red flags.

T10. Accounting Fraud: This topic will instruct the learner about accounting fraud so that s/he understands and knows how to recognize the basics of this crime and can be best prepared to prevent accounting fraud before it occurs

Please note that any legal and compliance references in this course will pertain to US legislation.