Understanding the 5 Ps of Fraud and Loss Prevention: Philosophy, Policy, Procedures, Practice, and People

John E. Grimes III, CFE, CFI is Keynote Speaker at ComplianceKey. has over 45 years of law enforcement, criminal investigation, loss prevention, fraud examination experience, and teaching experience. John began his law enforcement career with the Baltimore City Police Department where he became a Detective in the Criminal Investigation Division (CID). John left Baltimore and became a Special Agent with the Amtrak Police Department Fraud and Organized Crime Unit and was later promoted to Captain of the CID. In 1993, John joined the Amtrak Office of Inspector General/Office of Investigations as ........


Fraud and Loss Prevention is not only the purview of a company's Fraud Unit or Loss Prevention Department. To achieve success, employees from the top on down, must embrace all facets of a company's activities, including Fraud and Loss Prevention. Preventing and reducing fraud and losses should receive the same attention as creating revenue and controlling costs. Understanding the 5Ps of Fraud and Loss Prevention will enhance a company success potential by reducing fraud and loss opportunities. 

Why should you attend this webinar?

You will learn that successful companies embrace the concept that fundamental business activities that are governed and directed by policies and procedures are only as good as the people who are charged with implementing those policies and procedures. For a variety of reason, people, who are subject to the Human Factor, often will employ practices that do not comport with published policies and procedures. This leads to a breakdown of controls that may lead to fraud and loss hazards and opportunities. Whether the company is a small owner run business with a handful of employees or a large publicly traded company, its business philosophy will set the tone and govern how everyday business activities are viewed and followed, with either positive or negative results. 
By attending this webinar you will learn how a company should develop or re-engineer itself to adapt the 5 Ps of Fraud and Loss Prevention. You will learn the benefit of having a philosophy that incorporates a strong zero tolerance for fraud and losses. You will also learn the importance of having workable overarching policies that govern the philosophy, as wells as understandable procedures that run the everyday business activities. In addition, by attending this webinar, you will learn the reasons why practices often do not match published procedures, which lead to fraud and loss hazards and opportunities. You will also learn how to gain "buy-in" by the employees who are charged with running the business so practices do comply with procedures. 

Areas Covered in the Session:

  • How the Five Ps are interrelated. 
  • Creating a Strong Business Philosophy that does not tolerate fraud and losses.
  • The importance of appropriate overarching polices that govern the business.
  • The importance of creating published workable procedures that run the business.
  • The importance of adapting new procedures when necessary.
  • People: What causes employees to not follow published procedures?
  • People: What causes employees to steal from their employer?
  • How to create a work environment that fosters integrity and fairness.
  • Who can Benefit:

    Webinar Id: FSJG002

    Training Options:

    Duration: 90 mins

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     Recorded: [Six month unlimited access]

     $167 (Single Attendee)  $599 (Unlimited Attendee)

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