Physical Seminar – ‘Procurement Fraud’

Subject: “Procurement Fraud”
Date: Wednesday, 15 March 2023
Time: 09:00 to 17:00
Venue: Cleopatra Hotel in Nicosia
Language: English
CPE Points (Continuous Professional Education): 7 CPEs
Instructor: Chrystalla Kazara (BBA, ABA, MBA, ACCA, CFE)
Outline: Seminar Outline 
Registration Form: Seminar Participation
Details: 1. Introduction to Fraud
2. Collusion in Organizations
3. Defective Pricing Schemes
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Course Outline

  1. Introduction to Fraud
  2. Collusion in Organizations
  3. Defective Pricing Schemes
  4. Defective Pricing Schemes
  5. Performance Schemes
  6. Prevention Measures


Primary objectives

Procurement fraud comes in many forms and can increase the cost of procurement by an additional staggering amount of 10%. Consequently, this additional cost will create important financial and other implications for an organization. Other critical implications consist of Reputational damage and Health and Safety issues. Therefore, it is of utmost importance to act now and combat procurement fraud.

Enhancing fraud awareness and introducing effective preventative and detective measures are necessary tools in successfully combating procurement fraud and avoiding significant financial losses. For private companies, successfully addressing procurement fraud can increase profits and for governments minimizing the risk of procurement fraud can effectively enhance its reputation and improve its public services thus attracting more foreign investment as it will become a more attractive destination.



Chrystalla has 20+ years of experience in the Banking and Corporate Services sectors. Her expertise mainly focuses on Compliance/ AML, Corporate Governance, Internal Audit, Corporate Ethics, Fraud Prevention and Investigations.

Currently, she is the Head-Internal Audit Function of a Technology group, an independent Internal Controls and Fraud Prevention Specialist and a certified trainer by Human Resource Development Authority (HRDA).

She is a Chartered Certified Accountant (ACCA) and a Certified Fraud Examiner (CFE), member of the Board of Directors and Training Director of ACFE Cyprus and member of ACFE Global.

She is also a member of ICPAC, of the Cyprus Institute of Internal Auditors and of ISACA Cyprus Chapter. Chrystalla holds a Bachelor’s Degree in Business Administration, an MBA from CIIM and a Banking Certificate from the American Bankers Association.