Mahoney | CPAs and Advisors’ Post

The median fraud loss increased from $117,000 to $145,000 per incident over the last two years, according to a 2024 study published by the Association of Certified Fraud Examiners (ACFE). However, over the last decade, an increasing number of organizations have implemented fraud prevention and detection measures. Here's how your organization can use the study's findings to help protect against fraud.

COMING SOON! THE BLACKSTONE'S COUNTER FRAUD PROFESSIONALS' HANDBOOK Fraud makes up 40% of all crime reported and is now the most prevalent crime type across the UK, with an estimated 3.3 million incidents of fraud committed annually.  Royal United Services Institute has described it as the ‘volume crime of our time’ and recommended it be classified as a national security threat.  The Public Sector Fraud Authority estimates that fraud loss to the public sector is £39-59bn a year, with academic and industry leads, estimating losses across sectors could be as much as £190bn.   For the past few months my colleagues, Michael Betts, David Whitehouse-Hayes and I have been working together to provide a consolidated one stop handbook for the current counter fraud practitioner. This covers prevention, risk assessment, investigation and measurement techniques to improve your overall response. The book's aim is to offer practical, straightforward advice to help you build awareness and plan your effective response in the following areas: * Bribery & Corruption insight and investigation techniques * Leadership skills, integrity, and effectiveness * Investigation models and techniques * Emerging and existing legislation to have in your counter fraud toolkit * Fraud risk assessment, prevention, and measurement techniques. We have used our experience of operating in counter fraud and economic environments over a number of years, bringing together our experience from central, local and policing backgrounds to provide practical insight that can consolidate your understanding and support those newer to the field. We have also drawn from the Government Counter Fraud Profession (GCFP) practice, guidance and standards to ensure the approaches align, with kind permission from the PSFA who supported the development of this publication. The publication includes a forward from Mark Cheeseman OBE, CEO of the PSFA, and the architect behind the GCFP.  Mark shares his insights into effective counter fraud management, and provides rich content in the detailed Risk chapter.  We would also like to thank him for his support and counsel, which enabled us to produce this book. We hope you enjoy reading this as much as we did researching and putting it together, its available on pre order from a range of booksellers including Amazon, WH Smith and Waterstones, from 26th September 2024. Please note any financial remuneration due to the authors will be donated to a registered UK Victim Support charity- more details to follow with them soon!

Learn how to protect your business from fraud and empower your employees with the knowledge they need to identify and prevent fraudulent activities. 🔎 What You'll Discover: - The importance of fraud prevention in today's business landscape - Common types of fraud and how to spot them - Strategies to reduce the risk of fraud within your organization - Techniques to create a culture of fraud awareness - Practical tips to improve your organization's fraud prevention measures Check out our latest blog post on fraud prevention training. https://bit.ly/3SGfDgy #fraud #fraudtraining #elearning

New 'Failure to Prevent Fraud' offence will hold organisations to account if they profit from fraud committed by their employees. It aims to improve fraud prevention procedures in organisations & protect SMEs from fraud by larger organisations https://zurl.co/ZtYt

New 'Failure to Prevent Fraud' offence will hold organisations to account if they profit from fraud committed by their employees. It aims to improve fraud prevention procedures in organisations & protect SMEs from fraud by larger organisations https://zurl.co/ZtYt

An insightful overview of the 2024 Annual Fraud Report: Written by Oliver Fredrickson, this in-depth analysis provides essential insights into the latest trends and developments in fraud prevention and detection. Key Highlights Include: **Emerging Threats: An overview of the new and evolving fraud schemes that businesses need to be aware of in 2024. **Best Practices: Proven strategies and practices for mitigating fraud risk and safeguarding your organisation. **Regulatory Updates: A detailed examination of recent changes in fraud-related legislation and their implications for businesses. **Case Studies: Real-world examples of successful fraud prevention and the lessons learned from these cases. Understanding the landscape of fraud threats is essential for any organisation committed to maintaining security and staying ahead of potential risks. You can read our analysis and overview here: https://lnkd.in/e3XNhDAi #FraudPrevention #RiskManagement #Compliance #EMMLegal #fraudreport #fraud

Hi everyone, For those in fraud prevention, I wanted to send out an invitation to a round table a little later this month. See below for details. Please join us on June 20, 2024 for a Check Fraud Recovery round table discussion where we will cover: Movement - Update on industry action and collective efforts to mitigate fraud and aid collection efforts.   Trends - Discussion about the rapidly evolving fraud landscape and what banks are doing internally to mitigate losses.  Assistance - Steps we are taking as a firm to advise clients on fraud prevention and collection efforts, including training and preparing clients for litigation. Click on the Link in the Comments to Register   We want to extend an invitation to industry professionals who are charged with preventing check fraud and recovering on fraudulent checks to join us for a round table discussion to talk about what is working, what is not, and what can be done to reduce the incidence of fraud and collect on checks from other banks where liability is clear.

Fraud prevention is crucial for businesses of all sizes. Discover key strategies to protect your organization from potential fraud risks in this Forbes feature.

Fraud is a crime that can impact individuals, groups, or large corporations. DCAA is dedicated to preventing and detecting fraud, waste, and abuse of government funds. From Aug. 5 to Aug. 8, 2024, DCAA is dedicated to supporting DoD’s Fraud Prevention Week. To help raise awareness, contribute to prevention, and help others learn more about fraud, we’re covering the critical work of DCAA’s Operations Investigation Support (OIS) team, exploring their roles, challenges, and memorable moments. #dod #fraudawareness

Fraud prevention is crucial for businesses of all sizes. Discover key strategies to protect your organization from potential fraud risks in this Forbes feature.