Program Name

Commercial and Financial Crimes / Banknotes Counterfeit

In a brief statement, Financial Investigation Bureau (FIB) – London – explained Commercial and Financial Crimes as …. “Offering nothing for something to people who want something for nothing.” Such Financial / Commercial Instruments take many forms and mimic documents that are widely used on a daily basis by business, e.g. Drafts, Cheques, LCs, Guarantees, Standby, Certificate of Deposits, Securities etc. They create the impression to the targeted victim that he/she is getting involved in a financial transaction that is real.

In addition to the above, businesses and individuals are facing the risk of Counterfeit Banknotes. Central Banks seeks to combat counterfeits in many ways such as: design the banknotes to make them difficult to copy, research and develop enhanced security features, work closely with law enforcement agencies investigating counterfeit banknotes and training and public awareness. It is clear that, big operations to produce counterfeit Central Banks banknotes tend to be associated with organized crime. Despite improved and exact methods of printing, and special paper and ink, people still try to make their own money.

It is important to note that, deceiving people does not gain their confidence, and confidence is a necessary part of running a process efficiently and smoothly. Confidence is especially important when it comes to money; if people do not have confidence in their money, the process of trading-which is the economy-will not run at all, and we would be forced to revert to barter to obtain the goods and services we need.

Detecting counterfeits is not the responsibility of officials alone. It is everyone’s business because everyone is affected by the stability of our currency and the economy. Counterfeiters rely on the untrained eye when passing counterfeits.

So, one of the best ways of decreasing the production of counterfeits is increasing the probability of fake bills being detected. This can only be done by increasing the public awareness of the characteristics of genuine vs. counterfeit bills.

Outlines:

  • Financial Instrument Fraud (FIF):
    • Cell Principle.
    • Case Studies.
  • Commercial Instrument Fraud (CIF):
    • Red Flags.
    • Case Studies.
  • Internet Banks.
  • Identification Theft.
  • SPAM e-mails.
    • The new door for counterfeiters.
    • Case Studies.
  • Know Your Money
    • Factors associated with counterfeit.
    • Combating Counterfeit by Central Banks.
  • Counterfeit currency:
    • What to check?
    • How to check?
    • General and Most Common Security features.
    • Do’s and Don’ts.
    • Financial and Legal Risks.
  • How to tell if it’s counterfeit?
    • GCC Banknotes.
    • U.S. Dollar Banknotes.
    • The New U.S. Banknotes.
    • English Banknotes.
    • Euro Banknotes.
  • Internet Counterfeit:
    • Controls.
    • Self protection and referral.
  • Cheques counterfeit
    • Drafts.
    • Cheques.
    • Cashier cheques.
    • Money Orders.
    • Nigeria counterfeit cheque scams.
    • Tips for consumers.
    • Referrals / Aid.
  • The Anatomy of U.S. cheques:
    • The Security Features.
    • Detecting Fraud / Counterfeit.
  • U.S. Treasury Checks Security Features:
    • Paper.
    • Printing.
    • Additional security features.
    • Altered government cheques.
  • Bank Role (Do’s and Don’ts):
    • Action to be taken by the bank employees.
    • Laws and Regulations.

Benefits to the Participants and Organizations:

  • Awareness of the nature of scams.
  • Awareness of Banknotes security features.
  • Avoid becoming a victim.
  • Help avoid Fraud Business.
  • Demonstrate how people are too easily taken in by bluster, bluff, name-dropping and pretentious language.

General Information / Requirement:

Duration:

  • Two days – 16 Training Hours.

Seating arrangements / Style:

  • Round tables – Five participants on each table.

Number of Trainees:

  • 25 participants.

Techniques:

  • Videos.
  • Quizzes (Electronic).
  • Testing by using fake currency.

Methodology:

  • Lecture, discussions and cases.
  • Using fake and real banknotes.

Visual Aids:

  • LCD projector, flip charts, markers, pens, mike and UV light.

Language of the program:

  • Arabic or English (no mix groups).