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Institute For Oil & Gas Training
OGI-1104 New

Fraud Risks in Petroleum Operations: Prevention & Detection Training Course

Duration
5 days
CPD hours
15
Language
English
Next date
19 Jan 2027
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Overview

Fraud Risks in Petroleum Operations is a specialised corporate training course from Institute For Oil & Gas Training designed to strengthen organisational capability in preventing, detecting, investigating and responding to fraud across complex oil and gas activities. Fraud Risks in Petroleum Operations require focused controls because petroleum organisations manage high-value contracts, procurement, inventory, production data, joint ventures, payments, logistics, field services and revenue transactions across interconnected operational environments.

The course addresses the practical skills gap between having formal compliance policies and applying effective fraud risk controls within day-to-day petroleum operations. Fraud exposure develops across the full hydrocarbon value chain, from exploration and drilling through production, processing, transportation, storage, trading, procurement and decommissioning. Organisations also face exposure through third-party contractors, agents, suppliers, joint venture partners, intermediaries and service providers. Effective fraud risk management therefore requires more than policy awareness. It requires structured risk assessment, strong internal controls, reliable reporting channels, data-driven detection and disciplined investigation processes.

Institute For Oil & Gas Training delivers this programme with a strong focus on operational application. Participants examine how fraud schemes emerge through procurement manipulation, conflicts of interest, false invoicing, duplicate payments, inventory diversion, production data manipulation, payroll abuse, expense fraud, contractor collusion, kickbacks, fictitious vendors, revenue leakage and unauthorised transactions. The course also examines how weaknesses in segregation of duties, approval controls, master data, access rights, reconciliations and monitoring create opportunities for fraudulent activity.

A central theme is the development of a practical fraud response plan that connects prevention, detection, escalation, investigation and remediation. Participants examine how a whistleblower hotline and anonymous reporting channel support early identification of suspected misconduct while maintaining appropriate confidentiality and governance. They also explore investigation protocol requirements covering case intake, evidence preservation, interview planning, documentation, escalation and reporting.

The course places particular emphasis on data analytics for fraud detection. Petroleum organisations generate extensive transactional, operational and financial data, creating opportunities to identify unusual patterns before losses become material. Participants examine techniques for exception reporting, transaction analysis, trend analysis, duplicate detection, unusual payment identification, vendor analysis and continuous monitoring. These approaches support a more proactive control environment and provide management with stronger visibility over emerging fraud indicators.

Fraud awareness training is another essential component. Employees, supervisors, finance teams, procurement personnel, operations staff and managers require a shared understanding of common fraud indicators and reporting responsibilities. The programme connects awareness with practical control ownership so that personnel recognise unusual activity, understand escalation routes and contribute to a stronger ethical and control culture.

The programme also addresses the relationship between fraud risk, compliance risk, operational risk, financial controls and corporate governance. Participants consider how fraud controls operate within petroleum organisations where multiple functions, locations, systems and counterparties interact. The course supports a coordinated approach between internal audit, compliance, legal, finance, procurement, operations, risk management, security and senior leadership.

Institute For Oil & Gas Training uses realistic petroleum-sector scenarios to help participants translate concepts into operational practice. The course examines control breakdowns and response decisions across procurement, contracting, inventory, payments, production reporting and third-party relationships. Participants develop practical capabilities for recognising fraud exposure, strengthening controls, reviewing alerts and supporting investigations.

The programme is suitable for professionals who need to strengthen fraud prevention and detection within petroleum operations, including finance, audit, compliance, procurement, contracts, risk, operations, internal control and corporate security functions. It supports both management-level decision makers and specialists responsible for executing or monitoring controls.

Objectives

  • Identify the principal Fraud Risks in Petroleum Operations across upstream, midstream and downstream activities

  • Recognise common fraud schemes involving procurement, contracts, payments, inventory, production data and third-party relationships

  • Assess fraud exposure across petroleum business processes and control environments

  • Identify weaknesses in segregation of duties, approvals, reconciliations, access controls and vendor management

  • Develop practical approaches to fraud prevention and early detection

  • Design and strengthen a fraud response plan aligned with organisational governance requirements

  • Establish effective principles for whistleblower hotline management and anonymous reporting channel governance

  • Apply data analytics for fraud detection to identify unusual transactions and behavioural patterns

  • Use continuous monitoring to strengthen oversight of high-risk transactions and processes

  • Develop meaningful exception reporting for management and control functions

  • Strengthen fraud awareness training across operational and corporate teams

  • Apply a structured investigation protocol when suspected fraud is identified

  • Understand evidence preservation and investigation documentation requirements

  • Improve coordination between compliance, internal audit, finance, procurement, legal, security and operations

  • Strengthen third-party fraud risk management and contractor oversight

  • Improve escalation and reporting practices for suspected fraud incidents

  • Support corrective actions that address both individual incidents and underlying control weaknesses

  • Enhance organisational resilience against financial, operational and reputational consequences associated with fraud

  • Integrate fraud risk considerations into broader compliance, risk management and internal control activities

Training methodology

Institute For Oil & Gas Training uses an applied corporate methodology that connects fraud risk principles with operational realities in the oil and gas sector. The delivery approach focuses on practical decision making, control assessment, evidence-based analysis and structured response rather than theoretical discussion alone.

Petroleum Fraud Case Studies

Participants examine realistic scenarios involving procurement fraud, vendor collusion, false invoices, inventory discrepancies, expense manipulation, conflicts of interest and production reporting irregularities. Each case study highlights the control weaknesses, warning indicators and management decisions that influence the development and containment of fraud risk.

Fraud Risk Simulations

Practical simulations place participants in situations where suspected fraud requires immediate assessment. Participants review available information, identify control failures, determine escalation requirements and consider appropriate actions under an established fraud response plan.

Data Analytics Exercises

Participants work through examples of transactional data and exception patterns to understand how data analytics for fraud detection supports risk-based monitoring. Exercises focus on duplicate transactions, unusual payment patterns, vendor anomalies, threshold breaches and inconsistent operational records.

Investigation Scenarios

Participants examine suspected incidents through a structured investigation protocol. Activities cover case intake, preliminary assessment, evidence preservation, documentation, interview considerations, escalation and reporting. The methodology reinforces the importance of maintaining an objective and controlled investigation process.

Group Control Reviews

Small-group exercises require participants to review petroleum business processes and identify points where fraud risks arise. Teams assess preventive and detective controls, segregation of duties, approval processes, reporting mechanisms and monitoring activities before presenting improvement actions.

Reporting Channel Exercises

Participants explore how a whistleblower hotline and anonymous reporting channel operate within an effective fraud governance structure. Scenarios address report intake, confidentiality, triage, escalation and protection of information.

Continuous Monitoring Workshops

The programme demonstrates how continuous monitoring and exception reporting improve visibility over unusual transactions and operational activities. Participants assess potential indicators and consider how monitoring responsibilities should be assigned across business functions.

Management Decision Scenarios

Senior participants consider how management responds when allegations involve employees, suppliers, contractors or senior personnel. These scenarios develop structured judgement around escalation, evidence, communications, control remediation and governance responsibilities.

Organisational impact

The course provides sponsoring organisations with a structured approach to strengthening fraud risk management across petroleum operations. Improved understanding of fraud exposure enables management teams to identify vulnerable processes and prioritise controls according to operational and financial risk.

A stronger fraud prevention environment reduces reliance on manual detection after losses have occurred. Organisations gain greater capability to establish preventive controls around procurement, vendor onboarding, contracting, payment approval, inventory management and financial transactions. Clearer segregation of duties and approval responsibilities also strengthen accountability across business functions.

The programme supports more effective detection through data analytics for fraud detection, continuous monitoring and exception reporting. These capabilities help organisations identify unusual patterns and transactions that require further review. Monitoring can be directed towards high-risk processes and activities, improving the use of control resources.

A well-structured whistleblower hotline and anonymous reporting channel create additional routes for employees and other stakeholders to report suspected misconduct. The course helps organisations understand the governance principles required to manage reports consistently, protect sensitive information and route allegations through appropriate escalation channels.

The development of a formal fraud response plan strengthens organisational readiness when an allegation emerges. Rather than responding through disconnected actions, relevant functions can follow defined procedures covering assessment, escalation, evidence preservation, investigation, reporting and remediation.

The programme also strengthens cooperation between internal audit, compliance, finance, procurement, legal, operations, security and risk management. Fraud frequently crosses functional boundaries, making coordinated oversight essential for identifying control gaps and addressing root causes.

Enhanced investigation capabilities support better incident management. A consistent investigation protocol improves case documentation, evidence handling, interview preparation and reporting discipline. This provides management with a clearer basis for corrective action and control improvement.

Third-party oversight also benefits from stronger fraud awareness. Contractors, suppliers, agents and service providers represent important parts of petroleum operating models, and appropriate due diligence, contractual controls, monitoring and escalation processes contribute to a more robust control environment.

The organisational impact extends to corporate culture. Effective fraud awareness training helps employees recognise red flags, understand reporting responsibilities and appreciate the importance of ethical conduct and control compliance. This supports a stronger first line of defence across operational and corporate functions.

Personal impact

Participants develop practical capabilities that strengthen their contribution to fraud prevention, detection and response within petroleum organisations. They gain a clearer understanding of how fraudulent activity develops across complex operating environments and how control weaknesses create opportunities for misconduct.

Professionals learn to assess fraud exposure within business processes and identify indicators requiring further investigation. This strengthens their ability to challenge unusual transactions, review control effectiveness and communicate emerging risks to management.

Participants also gain practical knowledge of data analytics for fraud detection. They learn how transaction patterns, exception reports and monitoring outputs support the identification of unusual activity. This provides finance, audit, compliance and risk professionals with stronger analytical capabilities.

The programme develops the ability to contribute to a practical fraud response plan. Participants understand how suspected incidents move from initial reporting through assessment, escalation, investigation and remediation. This creates greater consistency in incident handling.

Professionals responsible for reporting channels gain a stronger understanding of whistleblower hotline governance and anonymous reporting channel processes. They learn how reports are received, assessed and escalated within an appropriate control structure.

Participants strengthen investigation capabilities through practical investigation protocol exercises. They develop awareness of evidence preservation, case documentation, interview planning, information handling and investigation reporting.

The course also strengthens cross-functional communication. Participants learn to communicate fraud indicators and control weaknesses clearly to management, internal audit, compliance, legal, finance, procurement and operational stakeholders.

For managers, the programme supports stronger oversight and control ownership. For specialists, it builds practical fraud risk capabilities that complement existing responsibilities in audit, compliance, finance, procurement, risk and operations.

The knowledge gained also supports more effective participation in fraud awareness training and internal control initiatives. Participants become better equipped to recognise red flags, challenge weaknesses and contribute to a proactive fraud risk culture.

Who should attend

Internal Audit Professionals

Internal auditors benefit from stronger capabilities for identifying fraud indicators, assessing control effectiveness and developing risk-based audit procedures across petroleum operations.

Compliance and Ethics Professionals

Compliance and ethics specialists gain practical approaches for fraud prevention, reporting mechanisms, investigation governance and continuous monitoring.

Risk Management Professionals

Risk managers develop stronger capabilities for identifying, assessing and monitoring fraud risks within enterprise and operational risk frameworks.

Finance and Accounting Professionals

Finance teams strengthen their ability to identify payment anomalies, unusual transactions, financial control weaknesses and potential revenue or expenditure fraud.

Procurement Professionals

Procurement specialists learn to identify vendor-related risks, conflicts of interest, bid manipulation, collusion, false invoicing and other procurement fraud indicators.

Contracts and Commercial Professionals

Contracts and commercial personnel gain insight into fraud risks associated with contractors, suppliers, claims, approvals, variations and commercial transactions.

Petroleum Operations Managers

Operations managers develop stronger awareness of fraud exposure within production, logistics, inventory, field services and operational reporting.

Corporate Security Professionals

Security teams gain structured approaches for supporting fraud prevention, incident escalation, information gathering and investigation processes.

Legal Professionals

Legal personnel benefit from greater understanding of fraud case governance, evidence handling, reporting processes and investigation coordination.

Internal Control Specialists

Internal control professionals strengthen their ability to design preventive and detective controls and improve monitoring arrangements.

Senior Management

Senior managers gain a clearer framework for overseeing fraud risk, strengthening accountability and ensuring appropriate organisational response to allegations.

Corporate Governance Professionals

Governance specialists develop practical insight into reporting structures, control oversight, escalation mechanisms and fraud risk governance.

Course outline

This module establishes the foundation for understanding Fraud Risks in Petroleum Operations and examines how fraud exposure develops across the petroleum value chain. Participants explore the relationship between operational complexity, financial value, third-party involvement, data integrity and internal control effectiveness.

  1. ISO 37001

    • Provides an internationally recognised management system framework focused on anti-bribery controls

    • Supports structured approaches to preventing, detecting and addressing bribery-related risks

    • Establishes principles relevant to organisational controls, due diligence, reporting and response

    • Provides useful reference points for strengthening anti-bribery elements within broader fraud risk management

    Learning Outcomes

    • Identify major fraud exposures across petroleum operations

    • Distinguish common fraud schemes from ordinary operational errors

    • Map fraud risks to vulnerable business processes

    • Recognise financial, operational and behavioural fraud indicators

    • Assess the role of internal controls in reducing fraud opportunities

    • Define appropriate fraud risk ownership across business functions

This module focuses on preventing fraudulent activity through effective governance, internal controls, employee awareness and third-party oversight. Participants examine how organisations establish barriers that reduce opportunities for fraud before incidents occur.

  1. ISO 37301

    • Provides requirements and guidance for establishing and maintaining a compliance management system

    • Supports structured compliance responsibilities, controls, monitoring and continual improvement

    • Promotes defined accountability and effective compliance processes

    • Provides a recognised framework for integrating fraud-related compliance controls into organisational governance

    Learning Outcomes

    • Evaluate preventive controls within petroleum business processes

    • Identify segregation of duties weaknesses

    • Strengthen procurement and payment control environments

    • Improve third-party fraud prevention practices

    • Support effective fraud awareness training

    • Connect employee responsibilities with fraud prevention objectives

This module develops practical capabilities for detecting suspicious activity through data analysis, monitoring and reporting. Participants examine how technology-enabled controls provide greater visibility over unusual transactions and emerging fraud indicators.

  1. COSO Internal Control Framework

    • Provides a recognised framework for evaluating internal control effectiveness

    • Addresses control environment, risk assessment, control activities, information and communication, and monitoring

    • Supports structured approaches to identifying and addressing control deficiencies

    • Provides a useful foundation for monitoring and evaluating fraud-related controls

    Learning Outcomes

    • Apply data analytics for fraud detection to petroleum transactions

    • Identify meaningful fraud indicators within operational and financial data

    • Design effective exception reporting principles

    • Strengthen continuous monitoring processes

    • Understand the role of whistleblower hotline arrangements

    • Establish appropriate principles for an anonymous reporting channel

    • Improve escalation of suspicious activity

This module focuses on the structured management of suspected fraud incidents. Participants examine how organisations move from initial allegations and alerts to controlled investigation, evidence preservation, reporting and corrective action.

  1. UK Bribery Act 2010

    • Establishes offences relating to bribery and corruption under UK law

    • Includes provisions relevant to organisations with applicable UK connections

    • Emphasises the importance of adequate procedures for preventing bribery

    • Provides a significant legal reference point for anti-bribery controls and organisational response

    Learning Outcomes

    • Develop key components of a practical fraud response plan

    • Apply a structured investigation protocol

    • Identify appropriate evidence preservation actions

    • Organise investigation information systematically

    • Support effective investigation escalation and reporting

    • Identify root causes and control failures following an incident

    • Develop corrective actions following confirmed control weaknesses

This module integrates fraud prevention, detection and response into an ongoing governance model. Participants examine how organisations sustain fraud controls through monitoring, assurance, reporting, remediation and management oversight.

  1. FATF Recommendations

    • Provide an internationally recognised framework for combating money laundering and related financial crime

    • Address risk-based approaches, preventive controls, customer and counterparty measures and reporting mechanisms

    • Provide relevant principles for organisations exposed to financial crime and illicit transaction risks

    • Support broader financial crime risk management alongside organisation-specific fraud controls

    Learning Outcomes

    • Integrate fraud controls into broader governance structures

    • Establish effective continuous monitoring practices

    • Improve exception reporting and management information

    • Strengthen fraud risk indicators and control testing

    • Improve oversight of third-party and counterparty risks

    • Track remediation and corrective actions

    • Support ongoing fraud awareness initiatives

    • Strengthen coordination between risk, compliance, audit and operational functions

    • Establish a sustainable approach to fraud risk improvement across petroleum operations

Certificate

Attendees receive a Certificate of Completion from Institute For Oil & Gas Training upon finishing the course. The certificate is issued to participants who satisfy the course attendance requirement and complete the programme.

Course dates

  • Europe

    Middle East

    Asia

    Africa

    North America

    Online

    Fee: £4,300

  • Europe

    Middle East

    Asia

    Africa

    North America

    Online

    Fee: £4,300

  • Europe

    Middle East

    Asia

    Africa

    North America

    Online

    Fee: £4,300

  • Europe

    Middle East

    Asia

    Africa

    North America

    Online

    Fee: £4,300

Fees include tuition, course materials and refreshments. Need different dates or a different city? Ask about your preferred date.

Frequently asked questions

What does the Fraud Risks in Petroleum Operations course cover?

The course covers fraud prevention, detection, investigation and response across petroleum operations. Key areas include procurement fraud, payment manipulation, inventory risks, contractor fraud, data analytics for fraud detection, continuous monitoring, exception reporting, whistleblower hotline governance and fraud response planning.

Who is this course designed for?

The programme is designed for professionals working in internal audit, compliance, risk management, finance, accounting, procurement, contracts, commercial, operations, corporate security, legal, internal controls and governance. It also supports managers responsible for fraud risk oversight.

How is the course delivered?

Institute For Oil & Gas Training uses corporate case studies, practical simulations, group exercises, investigation scenarios, data analytics exercises, control reviews and management decision scenarios. The methodology connects fraud risk principles with real-world petroleum business processes.

Does the course cover fraud detection through data analytics?

Yes. The programme covers data analytics for fraud detection, including transaction analysis, duplicate identification, unusual payment patterns, vendor analysis, threshold exceptions, trend analysis, continuous monitoring and exception reporting.

What certificate is provided after completion?

Attendees receive a Certificate of Completion from Institute For Oil & Gas Training upon finishing the course, subject to meeting the course attendance requirement.

Next: 19 Jan 2027

4 dates available

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