Would Your Company Pass a Fraud Prevention Check-Up?


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The ACFE developed the Fraud Prevention Check-Up several years ago as an affordable, easy-to-use way to identify gaps in your organization's fraud prevention processes. By identifying risks early, you have a chance to fix problems before losing money and becoming a victim of fraud.

Because fraud can be a catastrophic risk, taking the ACFE Fraud Prevention Check-Up can save your company from disaster. If you don't proactively identify and manage your fraud risks, they could put you out of business almost overnight. Even if you survive a major fraud, it can damage your reputation so badly that you can no longer succeed independently.

Fraud is an expensive drain on a company's financial resources; the ACFE Fraud Prevention Check-Up can pinpoint opportunities to save you money. In today's globally competitive environment, no one can afford to throw away the five percent of revenues that represents the largely hidden cost of fraud.

Those organizations that have identified their most significant fraud costs (such as insurance and credit card companies) have made great strides in attacking and reducing those costs. If your organization isn't identifying and tackling its fraud costs, it's vulnerable to competitors who lower their costs by doing so.

Fraud is now so common that its occurrence is no longer remarkable, only its scale. Any organization that fails to protect itself appropriately faces increased vulnerability to fraud.

The Check-Up’s the least expensive way to find out your company's vulnerability to fraud. Most organizations score very poorly in initial fraud prevention check-ups because they don't have appropriate anti-fraud controls in place. By finding this out early, they have a chance to fix problems before becoming victims of major frauds. It's like finding out you have seriously high blood pressure — it may be bad news, but not finding out can be a lot worse.

Read some more tips about taking advantage of your check-up by reading the full article on Fraud-Magazine.com.