Fraud in a COVID World
Fraud risk related to COVID-19 CPE = 2.5
The rapid onset of the COVID-19 pandemic has created havoc in all aspects of our business and personal lives. To make matters worse, the virus itself isn’t the only element invading our lives. Fraudsters have found a whole new avenue to perpetrate schemes and scams.
From January 1, 2020 through April 15, 2020, the FTC received 18,235 reports related to COVID-19, and people reported losing $13.4M to fraud. The top complaint categories relate to travel and vacations, online shopping and bogus text messages.
Fraud related to COVID-19 is occurring in multiple types of schemes and scams including:
- Medical testing, vaccines and medical equipment
- Travel and vacations
- Online shopping
- Internet Services
- Contact tracing
- The CARES Act and the Payroll Protection Program
These are just a few of the most prominent schemes that have arisen. During this session, we will delve into the intricacies of the COVID-19 pandemic and how it is impacting the world of fraud.
- Examine types of COVID-19 medical testing schemes
- Evaluate current FTC Statistics on COVID related fraud
- Examine FBI Fraud Warnings related to COVID related schemes
- Examine fraud that will occur with the CARES Act and Payroll Protection Program
- Identify tips for preventing and mitigating fraud
Delivery Method: Self Study
What Others Are Saying About This Course;
"As someone who has been the target of identity theft, I'm always vigilant of the types of electronic and telephone communications that seek to defraud individuals, as I have received a large volume of phishing scams, robocalls, and extortion emails. I highly recommend this course that focuses on the different types of fraud amidst the COVID-19 pandemic. Scammers and other predatory entities are seeking to take advantage of people during this challenging time, and we as employees, employers, and consumers must be armed with knowledge to avoid getting swindled."
Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive
Business Consultant, Trainer, Author
Ms. Fountain has over 40 years of experience in the business profession, which includes public and industry accounting and over 20 years within internal and external auditing combined. She is a nationally recognized trainer and speaker and also a published author. She is a subject matter expert and specializes in Internal Audit, Sarbanes-Oxley, Enterprise Risk Management, Fraud, Governance and Compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. She currently performs consulting for companies on internal audit, risk management, internal controls, SSAE 18, financial reporting and accounting along with performing training. She has also been instrumental in the establishment of ERM, Sarbanes-Oxley and Governance frameworks.
Ms. Fountain has authored a publication for the Institute of Internal Auditors Research Foundation (IIARF) titled “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”. The publication will be released April 20, 2015. In addition, she is authoring a publication for Auerbach on “The Realities of performing the Chief Audit Executive Role”. The publication will be released in the Fall 2015. In addition, she has performed as an adjunct instructor for the School of Business for Grantham University and the School of Business at the University of Kansas.
Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has active, current CPA, CGMA, and CRMA credentials.