Procurement Fraud: Pay to Play and other Schemes

Duration: 60 Minutes
Procurement fraud can occur in almost any business, especially those that rely heavily on products or services from third party vendors. This type of fraud can be used by insiders to enrich their own interests, can be used by one or more potential vendors to extract payments in excess of the real value of the goods/services obtained, or a combination of internal/external participants. It can involve acts of bribery, kick-backs, or other forms of theft. It can be used by unscrupulous vendors to unload inferior products, goods or services or as a means to commit other crimes, such as money laundering. Procurement fraud can end up costing businesses billions of dollars each year. There are strategies to undertake that can help to prevent and mitigate the loss from procurement fraud.
Procurement Fraud
Instructor: Kenneth Barden
Product ID: 509159
Objectives of the Presentation
  • What is procurement fraud and what is the extent it can cause loss to businesses?
  • Types of procurement fraud
  • Relationship of procurement fraud to other criminal activities
  • Identifying risks for procurement fraud
  • Measures to mitigate the risk of procurement fraud
  • Recent and notable cases
Why Should you Attend
Procurement fraud costs businesses billions of dollars each year. Not only can these types of fraud deprive a business of its revenue and other assets, but can adversely affect an entity's reputation among other suppliers, its customers and the public. This webinar will show attendees some common ways of identifying potential indicators of procurement fraud, steps that can be taken to prevent or minimize the incidence of procurement fraud, and measures that can be taken in the event procurement fraud does occur in a given situation.

Areas Covered
  • History and extent of procurement fraud
  • Types of procurement fraud
  • Identification of indicators of procurement fraud
  • Identifying risk indicators
  • Measures to mitigate fraud and its impact
  • Case examples
Who will Benefit
  • Purchasing officers
  • Accounting staff
  • Auditing staff
  • Business compliance officers
  • Vendors
  • Senior management
Topic Background
Procurement fraud can affect any business. Fraud can result in excessive costs and inferior goods/services. Loss from procurement fraud can result in billions of dollars in loss annually.
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Instructor Profile:
Kenneth Barden is a Senior Anticorruption and Good Governance Advisor with the Governance and Rule of Law Team at USAID. For many years, Ken was an independent consultant for several international development projects, including ones funded by USAID, the MCC, World Bank, UN, Asian Development Bank and others. Ken served as Team Leader for the USAID-administered MCC Threshold Indonesia Control of Corruption Project in Indonesia, working on anticorruption and judicial reform. Immediately prior to joining USAID, Ken was with the USAID Modernizing Financial Institutions project in the West Bank, where he led implementation of anti-money laundering and anticorruption activities. Ken's experience includes work in Eastern Europe, Central and Southeastern Asia, Oceania, the Middle East and Africa. He also has over 15 years of experience in municipal government. Ken holds a Juris Doctor from Indiana University, and a Bachelor's degree in Political Science from University of Indianapolis, as well as post-graduate work in Disaster Management from the University of Wisconsin and in International Humanitarian Law from the National Academy of Legal Studies and Research (NALSAR), in Hyderabad, India.
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