Starting November 3rd, International Fraud Awareness Week helped Las Vegas business owners and workers remain cognizant of the prevalence of fraud, and helped educate individuals on how to both identify and prevent it from happening in the workplace.
According to reports by the anti-fraud organization, the Association of Certified Fraud Examiners, fraud is to blame for an average 5 percent annual revenue loss suffered by the average organization. As such, the association provided a list of applicable tips to help proactively watch for unethical behavior.
For example, the ACFE suggests that all employees should receive anti-fraud training. Workers should be equipped with at least a basic understanding of how to spot fraud, whether a fellow worker or a client is acting deceitfully. There should also be in-house guidelines that have been clearly set, and workers should be encouraged to speak up when they have been breached.
The ACFE indicates that both upper and lower level employees should be held to a proper code of ethics. Regular evaluations that monitor and respond to improper behavior show all workers that deceptive behavior will not be tolerated.
Furthermore, departmental audits can help hold employees accountable for their actions and also discourage them from getting involved in fraudulent transactions.
While establishing preventative strategies is important, it likely will not halt all improper behavior. If you feel that you’ve been the victim of fraud, or are involved in a corporate dispute, contact a business litigation lawyer to assist you in righting the wrong that was committed against you and your organization.
Source: CPA Practice Advisor, “Tips To Avoid Fraud in the Workplace,” Isaac M. O’Bannon, Nov. 5, 2013