According to the 2016 ACFE Report to the Nations on Occupational
Fraud and Abuse, organizations across the globe lose an average of $150,000
each time they fall victim to fraud, and an estimated 5 percent of their
revenues annually. With fraud being such a costly issue to organizations
worldwide, the Association of Certified Fraud Examiners created International
Fraud Awareness Week to spread information about how businesses and individuals
can protect themselves from fraud.
Fraud Week takes place
November 13-19, 2016, and offers anti-fraud professionals the opportunity to
share fraud prevention knowledge and best practices with members of their
communities. Nearly 350 organizations from around the world have pledged their
support to spread fraud awareness and education this year. Representing six
continents, supporting organizations have planned activities ranging from awareness
fairs and lunch seminars to movie screenings and 1-day conferences.
Some organizations have
chosen themes for specific types of fraud to focus on. Oxfam Great Britain is
highlighting the dangers of nepotism, while Hollard Insurance is shining a
spotlight on business ethics. Many organizations are educating seniors and
their caregivers on common fraud schemes that target the elderly, while other
groups are providing training to their employees on how to spot phishing
“The unfortunate reality is
that fraud isn’t going away, and organizations and individuals that aren’t
aware of its prevalence stand to lose the most,” said ACFE President James D. Ratley,
CFE. “That’s why it is reassuring to me to see so many businesses, government
entities, universities and other organizations involved in the Fraud Week
movement. The first step in combating fraud is spreading education worldwide
that it is a serious problem that requires a proactive approach toward
For more information about
increasing awareness and reducing the risk of fraud during International Fraud
Awareness Week, visit FraudWeek.com.
About the ACFE
The Association of
Certified Fraud Examiners (ACFE) is the world’s largest anti-fraud organization
and premier provider of anti-fraud training and education. Together with nearly
80,000 members, the ACFE is reducing business fraud worldwide and inspiring
public confidence in the integrity and objectivity within the profession. The
ACFE administers the Certified Fraud Examiner (CFE) credential, an
internationally recognized certification that denotes proven expertise in fraud
prevention, detection and deterrence. CFEs around the world help protect the
global economy by uncovering fraud and implementing processes to prevent fraud.
For more information, visit ACFE.com.