Organisations worldwide lose an estimated 5% of their annual revenues to fraud, according to Occupational Fraud 2022: A Report to the Nations. Fraud takes many forms, including corporate fraud, consumer fraud, tax fraud, identity theft and many others.
The seriousness of the global fraud problem is why the Australian Institute of Insider Threats announced that it will be participating in International Fraud Awareness Week, Nov. 12-18, 2023, 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 businesses and investments from the growing fraud problem.
Fraud is an issue that unfortunately affects people from all walks of life around the world, and it takes many forms. Whether it’s a trusted employee stealing from a small business or organised rings of fraudsters targeting seniors in our community, most people know someone who’s been victimised by fraud. That’s why it’s so important for organisations to join this fight to raise awareness during this week. It is a serious problem that requires a proactive approach toward preventing it, and educating people is the first step.”
Every November, hundreds of organisations worldwide pledge to increase fraud awareness in their workplaces and communities. You can find more by visiting the International Fraud Awareness Week.