Fraud in the Spotlight: Organizations Worldwide Join Forces to Raise Awareness

 

 


International Fraud Awareness Week is November 16-22, 2014


AUSTIN, Texas, Nov. 13, 2014 – Fraud costs organizations worldwide an estimated 5 percent of their annual revenues, according to a study conducted by the Association of Certified Fraud Examiners (ACFE). If applied to the 2013 estimated Gross World Product, this translates to a potential projected global fraud loss of nearly $3.7 trillion.

 

To help shine a spotlight on this global problem, hundreds of organizations worldwide are participating in International Fraud Awareness Week, Nov. 16-22, 2014, as official supporters to promote anti-fraud awareness and prevention. The movement, known commonly as Fraud Week, champions the need to proactively fight fraud and help safeguard business and investments from the growing fraud problem.

 

During Fraud Week, official supporters will engage in various activities, including: hosting fraud awareness training for employees and/or the community, conducting employee surveys to assess levels of fraud awareness within their organization, posting articles on company websites and in newsletters, and teaming with local media to highlight the problem of fraud.

 

ACFE President and CEO James D. Ratley, CFE, said that the support of organizations around the world helps make Fraud Week an effective tool in raising anti-fraud awareness.

 

“The latest statistics tell us that fraud isn’t going away, and companies that don’t have protective measures in place stand to lose the most,” Ratley said. “That’s why it is reassuring to me to see so many businesses, agencies, universities and other organizations involved in the Fraud Week movement. The first step in combating fraud is raising awareness worldwide that it is a serious problem that requires a proactive approach toward preventing it.

 

“Since our first Fraud Week 14 years ago, the movement continues to grow,” Ratley said. “I heartily thank all of the supporters of Fraud Week for making it what it is today.”

 

For more information about increasing awareness and reducing the risk of fraud during International Fraud Awareness Week, visit FraudWeek.com.

 

The 2014 Report to the Nations is available for download online at the ACFE’s website: ACFE.com/RTTN. The Report is in PDF format.


 

Contact the ACFE
For more information, email PR@ACFE.com.