ACFE’s International Fraud Awareness Week returns

The ACFE kicks off its 2022 International Fraud Awareness Week, Nov. 13-19, with high-profile organizations like Walmart, Microsoft, General Mills and ADP signed on as Fraud Week Ambassadors to host in-person and virtual educational events meant to raise awareness about fraud and promote anti-fraud training.

International Fraud Awareness Week Ambassadors pledge support to the ACFE’s annual campaign devoted to spreading educational information about the risks of fraud and how workplaces and communities across the globe can fight it. But you don’t need a big name to get involved. Fraud Week isn’t restricted to large workplaces or business, finance and accounting organizations. Anyone can participate for free as a Supporting Organization on FraudWeek.com to support the campaign and highlight their commitment to educating their community about fraud risks and fraud prevention. Indeed, in past years, we have had more than 1,000 groups sign up to spread awareness about the dangers of fraud. 

“Fraud Week is the perfect time for any organization to highlight what they are doing, or what they plan to do, to raise fraud awareness and provide fraud education to their teams,” says ACFE President and CEO Bruce Dorris, J.D., CFE, CPA.

“Fraud impacts the whole business, and Fraud Week gives the opportunity to demonstrate how your group plans to help reduce it.”

Fraud awareness fights fraud

Certified Fraud Examiners surveyed in the ACFE Occupational Fraud 2022: A Report to the Nations estimate that organizations lose 5% of revenue to fraud every year. While this might seem like a drop in the bucket, those amounts can really add up if the fraud continues to go undetected, especially within smaller organizations where every dollar counts. However, the 2022 report shows that more and more organizations are getting proactive by implementing strong controls, including providing anti-fraud training for employees. According to the report, awareness training facilitates the detection of fraud by encouraging employees to report fraudulent activities. Indeed, 45% of fraud cases are detected by tips in organizations that have implemented fraud awareness training programs.

And FraudWeek.com is here to help organizations of all sizes up their game with free educational resources. On the site, you’ll find a video explaining why people commit fraud and infographics depicting the behavioral red flags of fraud and how organizations can prepare for the post-pandemic landscape. It also has games and downloadable educational guides and reports.

But organizations aren’t limited to the resources available on FraudWeek.com. In the past, many organization leaders have jumped off script and created their own unique events. Some groups have hosted community seminars and workshops, joined forces with local law enforcement agencies to put on financial presentations and encouraged government leaders to issue declarations in support of the week. One organization in the Middle East even held a workout class in honor of the week. 

There’s still time to sign up to participate in Fraud Week as a supporting organization. Head over to FraudWeek.com and click on “Sign Up to Support.” Also, don’t forget to use the hashtag #FraudWeek on social media to showcase the activities your group is doing that week.

Stefanie Hallgren is the ACFE’s public relations specialist. Contact her at SHallgren@ACFE.com.