The Association of Certified Fraud Examiners (ACFE) is sponsoring International Fraud Awareness Week from November 13-19, 2016 to help businesses reduce fraud worldwide. According to the 2016 ACFE Report to the Nations on Occupational Fraud and Abuse, fraud costs the world $3.7 trillion each year.
What can you and your organization do to stop fraud?
The ACFE has a tremendous amount of resources available to help prevent fraud and recover from it. Those resources include:
- The 2016 Report to the Nations provides an analysis of 2,410 cases of occupational fraud investigated between January 2014 and October 2015.
- The ACFE report, Benchmarking Your In-House Fraud Investigation Team, analyzes how internal fraud investigation departments are structured, how they performed and how they measure their own effectiveness.
- Various videos discussing mistakes business owners can make regarding fraud and fraudsters providing details of their fraud schemes.
- Various infographics on how fraud can occur in small businesses, the cost of fraud and the cost of complacency.
- Guides to help design an effective anti-fraud training program and test your organization’s fraud health.
Links to these resources from the ACFE can be found at http://www.fraudweek.com/research.aspx.
Schneider Downs has substantial experience investigating fraud in a variety of settings and industries, as well as assisting organizations in evaluating fraud risks and design controls to fight fraud. We invite you to contact our Business Advisory services group for more information on Fraud Week, or any issue involving Fraud Detection or Forensic Accounting.