Using Blockchain Cryptography Technology for Fraud Prevention

Course Title	: Using Blockchain Cryptography Technology for Fraud Prevention
Course Duration	: 1 Day Face-to-Face Intructor Led Workshop
Course Fee	: Available upon request (Write to us at info@tlcpak.com)
Course Location	: TLC (Karachi), Customer Onsite, and Online
	: Online workshop are delivered in one day, one unit in each half between 9:30 am to 1 pm and 3 pm to 5:30 pm
Course Code	: TN315
Deliverables	: Comprehensive Student Guide and Workshop Certificate

Customer onsite workshop can also be conducted for customers in Lahore, and Islamabad

ABOUT THIS WORKSHOP:
Fraud in any organization or company is not a problem that should be ignored. In addition to being costly, it can decrease employee morale and create an unstable business environment as well as undermine business and consumer relationships.

According to a study by the Association of Certified Fraud Examiners, the typical organization loses five percent of revenues to fraud each year.
Unfortunately, fraud in a business can go undetected for a long time and is often hard to uncover.

Blockchain can be used to fight and prevent fraud in a business network.
One of the major components that determines the value of Blockchain is its ability to share data in a fast and very secured way without any one entity having to take responsibility for safeguarding the data. In this one day workshop we will see how an enhanced security is a leading benefit of Blockchain technology.

WHICH FRAUD TYPES CAN BLOCKCHAIN DETECT?

Financial Fraud
Financial transactions are generally complex transactions. Some aspects such as the collateral requirement between the parties, the time required for reconciliation or settlement, currency differences cause the complexity. Some of these processes may require multiple human interactions at certain steps. Thus, the risk of fraud in financial transactions is high. Thanks to blockchain technology, it becomes much easier to detect suspicious behaviors. Because using blockchain, you share the recorded data in real-time and update the data with the approval of all parties who have access to the data.

Identity Fraud
Identity theft is one of the most common fraud methods in e-commerce. Especially in recent years, the prevalence of identity fraud has been increasing rapidly. In the blockchain structure, which works with strong authentication systems, only the people with permission can access the real data as the unique, original version. Also, only a certain party can handle the verification of the transactions to be made. Personal data is safe, and the risk of identity fraud is very low thanks to the secure infrastructure of blockchain.

Supply Change Frauds
Supply chain fraud is a big problem for companies. Due to the network created with the supplier companies, too many people involve in the process and the rate of access to data increases from time to time. Blockchain provides businesses with transparent and easy tracking of products. To update the products, a participant needs verification from all authorized participants. This means that participants are not able to manipulate the products easily.

When done right, Blockchain can eliminate these vulnerabilities:

Real-time monitoring: Timestamps fix a traceable timeline, featuring the how, who, when, and where of accountability.
Real identities: Each block (account, credit card, transaction) is linked to a real person or company. Identities cannot be hidden or buried in paperwork.
Eliminate third-party approval: Blockchain relies on 51% approval of those involved in the transaction. Third-party approval is not required or permitted. Only those in the chain can access and approve.
Paper is replaced with digital data: Proof of purchase, approval records, receipt of items, and other payment data is stored in the blockchain. The merchant, issuer, acquirer, and customer all have access to the same secure data—saving time and money in the event of a chargeback representment

This course will be delivered by Certified Blockchain Expert – Blockchain Council.

PREREQUISITES:
Participants attending this course should be familiar with basic Information Technology (IT) concepts, business challenges and the role of general system wide infrastructure technologies and their applications. The course assumes that learners have zero knowledge of Blockchain technology.

TARGET AUDIENCE:
This workshop is equally ideal for end-user customers, IT and business managers and planners, strategy builders, database and application developers, architects and analysts, technology managers and presales professionals including security, IT and network operations, enterprise architecture and project managers, document managers and technilical writers, audit and legal teams who want to equipped themselves with the key knowledge of Blockchain technologies.

ABOUT THE INSTRUCTOR:
This workshop shall be delivered by Certified Blockchain Expert (Blockchain Council), TOGAF 9 Certified/IBM Certfied Infrastructure System Architect and an experienced trainer with 25+ years of career experience imparting education and training services both locally and internationally and have worked for international enterprise technology vendors including IBM, Fujitsu, and ICL. Our instructor holds various industry professional certifications in the space of enterprise servers and storage technologies, Information Security, Enterprise Architecture, ITIL, Cloud, Virtualization, Green IT, and a co-author of 10 IBM Redbooks.

COURSE OUTLINE:

Unit 1 – Blockchain for Fraud Prevention

Understanding Distributed Systems – System of Records (SOR), System of Engagement (SOE), and System of Interactions (SOI).

Risk Defined – Three Categories of Risks.

Understand Financial crime or fraud.

Financial Compliance Vs Financial Crime and Fraud.

Types of Frauds in Banking and Financial Services Industry.

The difference between automated and human-driven fraud.

Fraud and financial crime – A small Industry backdrop.

Challenges to combat Financial Crime in Financial Domain.

Cyber profile of Fraud and Financial Crime – An illustrated Example.

Understand why crime pathways are converging, blurring traditional distinctions among cyber breaches, fraud, and financial crimes.

The Process of Fraud Detection System.

Types of inherent risks attached with Blockchain.

How Blockchain Technology can Prevent Fraud?

Understand how enhanced security is a leading benefit of blockchain technology.

Can Blockchain eliminate all Frauds?

Blockchain for Traceability and Key Traceability Concepts.

How AI and Machine Learning can turn the tide of fraud.

The Process of Fraud Detection System.

How Blockchain Prevent Identity Theft?

Benefits of Blockchain – The business value summary.

Top 11 ways poor Cybersecurity can harm your security hygiene.

10 Key steps to Cybersecurity.

Questions you should ask your Cloud Services Provider.

What you need to remember – Cybersecurity.

Unit 1 Assessment.

Unit 2 – The Role of Cryptographic Algorithms in Blockchain

Understanding the importance of Security.

Confidentiality, Integrity & Availability – Defined.

Threat Channel Vector Attack and Attack Progression Model used by Cybercriminals.

Cryptography Defined.

Explaining Symmetric and Asymmetric Key Cryptography.

Symmetric Vs Asymmetric Encryption Illustration.

End–to–End Encryption Explained.

Algorithms used in Blockchain Technology.

Define SHA-256, ECC and RIPEMD-160 Cryptography Algorithm.

Hashing and Blockchain relationships.

Properties of Cryptography Hash.

Establishment of Trust through consensus and cryptography.

Importance of Digital Signatures and Nonrepudiation.

Cryptography and Encryption Checkpoint and key differences.

Understanding Digital Wallets and Types of Digital Wallets.

Blockchain literacy gaps – The Challenge.

A Blockchain network is only as secure as its infrastructure.

Blockchain literacy gaps – The biggest challenge.

Blockchain Security Reference Architecture and Blockchain Security Model

Unit 2 Assessment.