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November 13, 2017Wickes Forensic Accounting & Consulting, LLC Joins Movement to Shine a Spotlight on Fraud
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). The ACFE’s 2016 Report to the Nations on Occupational Fraud and Abuse analyzed 2,410 occupational fraud cases that caused a total loss of more than $6.3 billion.
The seriousness of the global fraud problem is why Pam Wickes, Certified Public Accountant, Certified Fraud Examiner, Certified in Financial Forensics, Accredited in Business Valuation, and member of the ACFE, announced that her company, Wickes Forensic Accounting & Consulting, LLC, will be participating in International Fraud Awareness Week, Nov. 12-18, 2017, 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.
Wickes Forensic Accounting & Consulting, LLC 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.
During Fraud Week, official supporters will engage in various activities, including: hosting fraud awareness training for employees and/or the community, posting articles on company websites and in newsletters and teaming up with local media to highlight the problem of fraud. Wickes Forensic Accounting & Consulting, LLC will post, on its website and social media platforms, various information to raise awareness via blog posts, infographics, and possibly a video.
“Small businesses, not-for profits, and civic organizations generally have fewer anti-fraud controls in place than large organizations, which makes them especially vulnerable to fraud. Therefore, when I am asked to present on the topic, I always cover the red flags of fraudulent employee activity in hopes that the small organizations will identify suspicious behaviors and uncover fraud sooner,” said Wickes. “It’s sad when I’m investigating an employee embezzlement and there have been indications of fraudulent activity that the co-workers did not recognize.”
ACFE President 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 2016 Report to the Nations is available for download online at the ACFE’s website: ACFE.com/RTTN. The Report is in PDF format.
