Fraud in Retail Settings: Gift Cards and Returns Schemes

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Fraud in Retail Settings: Gift Cards and Returns Schemes

While it may seem like a lower-level scam, gift card fraud has real consequences for retailers. An analysis of data drawn from the Federal Trade Commission’s Consumer Sentinel database found that gift card scams have led to a consumer loss of $148 million. Both the Federal Trade Commission and the 2023 National Retail Security Survey have reported increases in gift card scams in recent years. More specifically, 57% of the 177 retail brands responding to the National Retail Security Survey reported an increase in gift card scams from 2022 to 2023. 

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Letter From the President: Many Professions Unite to Fight Fraud

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Letter From the President: Many Professions Unite to Fight Fraud

One important distinction of the Association of Certified Fraud Examiners (ACFE) from other associations is the diversity of our professional base. Most members of accounting organizations, of course, are accountants. Internal auditors have a group dedicated just to them. Bar associations are comprised of attorneys. Physicians fill the rosters of medical associations.

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The ACFE Joins Anti-Fraud Collaboration to Strengthen Global FRM Community

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The ACFE Joins Anti-Fraud Collaboration to Strengthen Global FRM Community

In the continued pursuit of reducing fraud worldwide, the Association of Certified Fraud Examiners (ACFE) has joined the Anti-Fraud Collaboration (AFC) as its newest member. This milestone and strategic partnership will strengthen shared goals of both organizations and provide resources that support efficient and effective financial fraud risk management programs across all industries. 

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Submit Your 2024 ACFE Awards Nominations

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Submit Your 2024 ACFE Awards Nominations

Each year, the Association of Certified Fraud Examiners (ACFE) honors outstanding individuals and organizations who make significant contributions to fighting fraud. The ACFE is proud to recognize these exceptional individuals for their invaluable service in the ongoing fight against fraud through the ACFE Awards. Nominate a fellow ACFE member or local chapter for one of the ACFE’s prestigious awards by March 8, 2024. 

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The Dichotomy of Modern Government Fraud Schemes and Government Oversight’s Contrasting Approach

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The Dichotomy of Modern Government Fraud Schemes and Government Oversight’s Contrasting Approach

There appeared to be an overwhelmingly substantial number of “high loss” fraud schemes being perpetrated in 2022 (as reported by the Federal Trade Commission). This was shocking as it appeared to show more high loss cases than low loss cases. This would signal a marked departure from decades of historical statistics. Statistics we, in program oversight, rely upon to strategize our anti-fraud endeavors.

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