Every year, organizations and professionals around the globe unite to shine a spotlight on fraud and its far-reaching impacts during International Fraud Awareness Week (commonly called Fraud Week). This annual campaign, spearheaded by the Association of Certified Fraud Examiners (ACFE), aims to educate businesses, governments, and individuals about the importance of fraud prevention and detection.

As members of the ACFE Pacific Northwest Chapter, we’re proud to participate in this global effort to raise awareness and empower organizations to combat fraud effectively. Here’s what you need to know about Fraud Week and how you can get involved.

What Is International Fraud Awareness Week?

Fraud Week, established by the ACFE, occurs every November and brings attention to the pervasiveness of fraud worldwide. It’s a dedicated time for organizations to:

•Highlight the detrimental effects of fraud on businesses, governments, and individuals.

•Promote anti-fraud education and awareness.

•Empower individuals and teams with tools to detect and prevent fraud.

With over $5 trillion lost to occupational fraud annually, according to the ACFE’s Report to the Nations, initiatives like Fraud Week play a crucial role in fostering transparency and trust within organizations.

Why Is Fraud Awareness Important?

1.Financial Impact: Fraud significantly impacts organizations’ bottom lines, with small businesses and nonprofits being especially vulnerable.

2.Reputational Risk: Beyond financial losses, fraud can damage an organization’s reputation, leading to lost clients and tarnished credibility.

3.Preventative Culture: By promoting awareness, organizations can create a proactive, ethical culture that reduces opportunities for fraudulent behavior.

How Can You Participate in Fraud Week?

There are many ways to join the Fraud Week movement, whether you’re an individual professional, a CFE, or part of an organization.

1. Host trainings and Educational Sessions

•Organize fraud prevention workshops for employees or colleagues.

•Use resources like the ACFE’s Fraud Prevention Check-Up to assess your organization’s fraud risk.

2. Share Anti-Fraud Content

•Post fraud awareness tips, statistics, and resources on your organization’s website or social media channels using the hashtag #FraudWeek.

•Highlight key findings from the ACFE’s Report to the Nations to educate others about fraud trends.

3. Partner with your Community

•Collaborate with local businesses or community organizations to host fraud awareness events.

•Offer pro-bono consultations to nonprofits or small businesses to help them identify and mitigate fraud risks.

4. Conduct a Fraud Risk Assessment

•Use Fraud Week as an opportunity to review internal controls and address any gaps.

•Involve your fraud prevention team or hire a CFE to evaluate your organization’s fraud vulnerabilities.

5. Share Success Stories

•Highlight case studies or success stories of how fraud prevention or detection efforts saved your organization from losses.

•Encourage employees to share their ideas for improving anti-fraud measures.

6. Engage Employees

•Host a fraud trivia contest or lunch-and-learn session to make anti-fraud education engaging.

•Recognize employees who demonstrate integrity and ethical behavior as part of your Fraud Week activities.

How the ACFE PNW Chapter Supports Fraud Week

At the ACFE Pacific Northwest Chapter, we’re committed to providing resources and support to our members during Fraud Week and beyond. This year, we’re proud to:

•Share downloadable resources and tools for Fraud Week participation.

•Host webinars on emerging fraud trends and prevention techniques.

•Highlight stories from local CFEs making a difference in fraud prevention.

Join the Movement

Whether you’re a seasoned CFE or just starting your journey in the fraud prevention field, International Fraud Awareness Week is your chance to make an impact. Let’s work together to build a world where fraud is harder to commit and easier to detect.

What will you do for Fraud Week? Share your plans with us in the comments or on LinkedIn!

For more information on Fraud Week and access to official resources, visit the ACFE Fraud Week page.