Fraud Awareness Week is an important effort to help organizations realize their true exposure to the risks of fraud.
Purcellville, VA (PRWEB) November 17, 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.
The seriousness of the global fraud problem is why Lowers Risk Group announced its participation in International Fraud Awareness Week, Nov. 16-22, 2014, as an official supporter 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.
Lowers Risk Group, an international enterprise risk management consultancy, 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.
In recognition of Fraud Week, Lowers Risk Group has published a new graphical guide that extracts ten key points from the 2014 version of the Association of Certified Fraud Examiners’ (ACFE) Report to the Nations on the incidence and characteristics of organizational fraud. The guide, 10 Fraud Facts And Tips to Protect Your People, Brand, and Profits, includes recommendations for implementing a fraud prevention program in an organization.
Mark Lowers, President of Lowers Risk Group, remarks, “Fraud Awareness Week is an important effort to help organizations realize their true exposure to the risks of fraud, and hopefully to motivate these organizations to take proactive steps to prevent unnecessary losses. Despite the fact that every organization is vulnerable to fraud, a significant number do not have a systematic fraud prevention program in place.”
To download a free copy of the visual guide, 10 Fraud Facts, visit http://www.lowersriskgroup.com/lp/10-facts-about-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 more than 10 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.
About Lowers Risk Group
Lowers Risk Group provides comprehensive enterprise risk management solutions to organizations operating in high-risk, highly-regulated environments and organizations that value risk mitigation. The company’s human capital and specialized industry enterprise risk management solutions protect people, brands, and profits from avoidable loss and harm. With Lowers Risk Group you can expect a strategic, focused approach to risk assessment, compliance, and mitigation to help drive your organization forward with confidence. Learn more about LRG at http://www.lowersriskgroup.com.
About the Association of Certified Fraud Examiners
Based in Austin, Texas, the ACFE is the world's largest anti-fraud organization and premier provider of anti-fraud training and education. Together with more than 70,000 members, the ACFE is reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity within the profession. For more information, visit ACFE.com.