No Substitute for Hands-On Experience

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MEMBER PROFILE

David Wilson, CFE
Security and Asset Protection Manager
Coca-Cola South Africa 

There is no substitute for hands-on experience in fraud examination. This reality has helped guide David Wilson, CFE, in his career and is also a key piece of advice he imparts to others looking to enter the profession. As security and asset protection manager for Coca-Cola South Africa, Wilson earned the CFE credential in 2010 – and regards that, along with his successful investigations, among his proudest accomplishments.

What first interested you in the ACFE and inspired you to seek the CFE credential? 

Initially, I was just an associate member of the ACFE. Once I started receiving the communications, advice, courses offered and the professional development opportunities, I learned the value of the CFE credential.

What specific advantage has it given you in your career?

The credential has given me many advantages. One of the most important is that it adds value to court testimony as the credential is well respected by the legal fraternity in South Africa.

What are some ways you’ve been able to apply your CFE training to your job? 

I have downloaded the training material, which I intend rolling out at our offices to educate finance personnel regarding red flag indicators. I am launching a fraud risk assessment and implementing proactive strategies to mitigate the risk of occupational fraud in the workplace. These preventative strategies are ways in which I leverage the CFE credential daily.

In your opinion, why is anti-fraud education and awareness important for businesses and government agencies?

Having readily trained associates within the workplace contributes to the reduction of fraudulent schemes. Fraud may be detected much earlier, ensuring that the median loss is greatly reduced.

What advice would you give to someone just starting their career as a CFE? 

Shadow a seasoned investigator to learn the tricks of the trade. You can’t learn everything from the manuals. Having the CFE will certainly provide the groundwork, but hands-on experience is a great advantage.

What impact has being a member of the ACFE had on you personally and professionally? 

It has enabled me to network with like-minded individuals and share experiences and learn new skills. The ACFE Fraud Conference in Orlando gave me a great sense of the organization and the resources at my disposal.

Read David's full profile in the Career Center on ACFE.com.

How Will You Get Involved in International Fraud Awareness Week?

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GUEST BLOGGER

Scott Patterson
ACFE Public Relations Specialist

Years ago, the ACFE’s grassroots fraud awareness campaign, International Fraud Awareness Week, was held during our Annual Fraud Conference and Exhibition. In 2006, I remember seeing hundreds of conference attendees sporting “I’m a Fraud Fighter!” stickers and grabbing literature to take back to their companies, clients and chapters to help spread the word. Over time, though, we realized that Fraud Week (for short) deserved its own spotlight. The next year, Fraud Week was moved to November, and the movement really took off, with hundreds of organizations partnering with the ACFE to support the effort.

Since then, Wal-Mart, USAA, Coca-Cola and Deloitte are just a few of the businesses that have signed on as official partners for this important campaign, in addition to government agencies including the Secret Service, U.S. Dept. of Justice and the U.S. Dept. of Labor. The best thing about International Fraud Awareness Week, though, is that any organization can get involved – it doesn’t cost anything to sign up, and the ACFE shares resources with all of the official supporters to help them in their anti-fraud activities. Every year on FraudWeek.com we post downloadable resources, including the Fraud Prevention Check-up, Fraud IQ Quiz and educational presentations focused on fraud prevention and detection.

This year, International Fraud Awareness Week is Nov. 6-12. I encourage you to get your company involved, and take the initiative to make an impact during the week, whether by hosting fraud awareness training for your employees and/or the community, conducting employee surveys to assess levels of fraud awareness within your organization, posting articles on your website and newsletters and/or teaming with local media to highlight the problem of fraud.

The problem is an urgent one, as fraud schemes are extremely costly:

  • The median loss caused by the occupational fraud cases studied in the ACFE’s 2010 Report to the Nations on Occupational Fraud and Abuse.
  • Schemes can continue for months or even years before they are detected, lasting a median of 18 months before being caught.
  • Small businesses are especially vulnerable to occupational fraud. These organizations are typically lacking in anti-fraud controls compared to their larger counterparts.
  • Occupational frauds are much more likely to be detected by tips than by any other means. This finding reinforces the need for promoting awareness to foster an informed workforce.

Check out FraudWeek.com to learn more.