Fraud Trends 2023 and beyond – Examining Automation and Machine Learning

Field: Fraud | Delivery Method: Self-Study | CPE Hours: 2.0

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Fraudsters seek new ways to exploit private information. Cybercrime and fraud prevention is an evolving field based on varied tactics used by fraudsters. In order to be prepared to mitigate fraud risks, you must understand the current fraud trends.


The initial segment of this series will focus on fraud trends that have been identified for 2023 and beyond. Broadly, these trends include:
  • Automation
  • Account Takeover
  • Adoption of new digital payment methods
  • Balancing fraud and consumer friction
  • Rise of synthetic identities
  • Escalating cost of fraud
  • Targeted attacks
  • Strong need for real-time assessment
  • Need for multi-layered fraud assessment
  • Account security

Within each succeeding segment we will focus on specific aspects to enable professionals to start adapting and integrating the trend into their business.

After we discuss the fraud trends, we will delve into the first trend that deals with automation and ML.

Lesson Objectives
  • Evaluate Fraud trends for 2023 and beyond.
  • Examine how ML works.
  • Drill down on automation trends and ML tools.
    • Understand the term Blackbox vs. Whitebox.
    • Understand the challenges and benefits of both.
  • Examine specific cases of ML.
  • Identify steps for sustainable automated fraud detection process for your business.
  • Evaluate what to look for in a fraud software.
  • Examine some leading software packages.

Field: Fraud
CPE: 2.0
Delivery Method: Self-Study
Format: Video



Your Instructor


Lynn Fountain
Lynn Fountain

Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive

Business Consultant, Trainer, Author


Ms. Fountain has over 40 years of experience spanning public accounting, industry accounting and consulting. Sixteen years of that experience has been in the field of internal audit, risk managment and process improvement. She is well adept to assist your organization evaluate business strategy, perform risk assessments, establish a Sarbanes-Oxley process, synergizing internal audit processes or perform process improvement projects.


As a past corporate executive Lynn has a passion for working with professionals to enhance their processes and provide leading edge education. She has authored and delivered hundreds of training courses for accounting, finance and audit professionals. Her training is filled with not just theory but real world application.


Ms. Fountain has authored three technical publications:

-Leading the Internal Audit Function 

-Raise the Red Flag

-Ethics and the Internal Auditor's political dilemma


Lynn is a recognized leader in the internal audit profession as well as a recognized business professional.  


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.


https://www.lynnfountain.net/


Course Curriculum


  Fraud Trends 2023 and beyond – Examining Automation and Machine Learning
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