Fraud prevention is an essential component of any corporate risk management program. Limiting the opportunities for bad actors to commit illegal activities is necessary. To achieve this goal, various protections can and should be implemented. These include formal fraud risk assessments, surprise audits, mandatory job rotation/vacations, internal audits, financial statement audits, and anti-fraud policies. When updating your program, it is essential not to forget about fraud awareness training. According to the ACFE Occupational Fraud 2024 – Report to the Nations, it was found that training on the risks and costs of fraud helped reduce related losses and ensured schemes were identified more rapidly. It also helped to reduce losses incurred from schemes perpetrated by owners and executives. The benefits multiply quickly when this training is combined with other fraud prevention measures. To help clients, prospects, and others, Wilson Lewis has summarized the key details below.
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Amongst the various fraud prevention tactics, organizations should consider the case for fraud awareness training is undoubtedly a compelling one. Atlanta companies should seriously consider adding fraud training to their roster of prevention activities. If you have questions about the information outlined above or need assistance with fraud awareness training, Wilson Lewis can help. For additional information, call 770-476-1004 or click here to contact us. We look forward to speaking with you soon.
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