Cash Handling and Fraud Prevention

Course Title: Cash Handling and Fraud Prevention                           
Course Code: CHFP-FB-2503-1.1

Accreditation Type: Certificate of Competency

Course Duration

Total Course Hours: 8 hours (1 day)

Course Fee

Total Course Fee: S$180/pax

Funding Available (If Applicable):

• Training Industry Professionals in Tourism (TIP-iT)
• NTUC Company Training Committee (CTC) Grant

Learning Objectives and Learning Units for Cash Handling and Fraud Prevention

Learning Objectives:

By the end of this course, learners will be able to:

1. Apply secure cash handling practices to protect revenue and minimize financial risks.
2. Identify counterfeit bills and suspicious payment activities, preventing financial loss.
3. Follow proper procedures for reporting and managing fraudulent transactions to ensure swift and accurate response to threats.

Learning Units:

Unit 1: Secure Cash Handling Practices

• Overview of cash handling procedures (e.g., receiving, counting, storing, and depositing cash)
• Best practices for ensuring cash security during shifts
• Procedures for balancing cash registers and safes
• Protecting cash from theft or misplacement during transfer
• Use of cash handling tools (e.g., money counters, tamper-evident bags)
• Role of staff in minimizing cash-related risks through vigilance and responsibility

Unit 2: Identifying Counterfeit Bills and Suspicious Payment Activities

• How to detect counterfeit bills using basic techniques (e.g., UV light, watermarks, security threads)
• Identifying suspicious payment activities (e.g., irregular amounts, unusual payment methods, quick changes in payment behavior)
• Recognizing red flags in credit card or mobile payment transactions
• Procedures for verifying the authenticity of payments in high-risk situations (e.g., large transactions, international customers)
• Training on the use of counterfeit detection devices and tools
• Case studies on fraudulent activities and their financial impact

Unit 3: Procedures for Reporting and Managing Fraudulent Transactions

• Steps for reporting suspected fraudulent transactions (internally and to authorities)
• Documenting and retaining evidence of fraudulent activity
• Role of managers and supervisors in investigating fraud incidents
• Communication protocols between staff and management regarding fraud prevention
• Handling customer disputes and concerns related to fraudulent activities
• Post-incident actions to mitigate further fraud risks (e.g., tightening controls, revising procedures