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). Occupational Fraud 2022: A Report to the Nations analyzed 2,110 occupational fraud cases that caused a total loss of more than $3.6 billion.
The seriousness of the global fraud problem motivated HW&Co. to participate as an official supporter in International Fraud Awareness Week, Nov. 13-19, 2022, in order to promote anti-fraud awareness and education. 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.
HW&Co. joins hundreds of organizations who have partnered with the ACFE, the world’s largest anti-fraud organization and premier provider of anti-fraud training and education, for the yearly Fraud Week campaign. “We recognize the importance of staying abreast of ever-evolving fraud schemes in order to keep our clients and our company protected,” Tony LaNasa, CPA, CFE, Managing Principal of HW&Co.’s Columbus office and Director of HW&Co.’s Fraud and Forensic Accounting Group, said. “Fraud Week provides a wealth of information to the professional community, and it provides resources to fight fraud at the ground-level.”
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 up with local media to highlight the problem of fraud.
HW&Co. is hosted a webinar on November 16th, which can be viewed on the firm’s YouTube channel.
ACFE president and CEO Bruce Dorris, J.D., CFE, CPA, said that the support of organizations around the world helps make Fraud Week an effective tool in raising anti-fraud awareness.
Contact your HW&Co. advisor to learn more about how you can fight fraud at your organization.