DARTON GROUP is Official Supporter of Fraud Awareness Week
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Posted by  in Fraud Awareness

Organizations lose an estimated 5 percent of their annual revenues to fraud, according to a 2012 study by the Association of Certified Fraud Examiners (ACFE). To help shine a spotlight on this global problem, DARTON GROUP is participating in International Fraud Awareness Week, Nov. 3-9, 2013, as an official supporter to promote anti-fraud awareness and prevention.  This marks the 5th consecutive year that DARTON GROUP has supported Fraud Awareness Week.

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 with local media to highlight the problem of fraud.

 In its 2012 Report to the Nations on Occupational Fraud and Abuse, the ACFE found that:

  • Fraud schemes are extremely costly. The median loss caused by the occupational fraud cases in the ACFE study was $140,000. More than one-fifth of the frauds involved losses of at least $1 million.
  • Schemes can continue for months or even years before they are detected. The frauds in the study lasted a median of 18 months before being caught.
  • Occupational fraud is a global problem. Though some findings differ slightly from region to region, most of the trends in fraud schemes, perpetrator characteristics and anti-fraud controls are similar regardless of where the fraud occurred.
  • Small businesses are especially vulnerable to occupational fraud. These organizations are typically lacking in anti-fraud controls compared to their larger counterparts, which makes them particularly vulnerable to fraud.
  • Tips are key in detecting fraud. Occupational frauds are much more likely to be detected by tip than by any other means. This finding reinforces the need for promoting awareness to foster an informed workforce.

For more information about increasing awareness and reducing the risk of fraud during International Fraud Awareness Week, visit FraudWeek.com. The 2012 Report to the Nations is available for download online at the ACFE’s website. 

About DARTON GROUP

DARTON GROUP (DARTON) specializes in providing highly-experienced project management, finance and accounting professionals for contract consulting engagements and interim roles.  DARTON focuses on problem-solving and engages top-tier consulting professionals with great companies to create rewarding partnerships.  Locally-owned and operated, DARTON is a nationally-certified Women’s Business Enterprise (WBE) and serves businesses and project professionals across the greater Charlotte, NC region.  For more information, visit www.dartongroup.com or call (704) 525-9378.

 

About the Association of Certified Fraud Examiners
Founded in 1988, the ACFE is celebrating its 25th anniversary as the world’s largest anti-fraud organization and premier provider of anti-fraud training and education. Together with more than 65,000 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.

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