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Infocredit Group Joins Movement to Shine a Spotlight on Fraud

Infocredit Group Joins Movement to Shine a Spotlight on Fraud

Fraud costs organizations worldwide an estimated 5 percent of their annual revenues, according to a study conducted by the Association of Certified Fraud Examiners (ACFE). The ACFE’s 2018 Report to the Nations on Occupational Fraud and Abuse analyzed 2,690 occupational fraud cases that caused a total loss of more than $7.1 billion.

The seriousness of the global fraud problem is why Infocredit Group announced that it will be participating in International Fraud Awareness Week, Nov. 17-23, 2019, as an official supporter to promote anti-fraud awareness and education. The movement, known commonly as Fraud Week, champions the need to proactively fight fraud and help safeguard business and investments from the growing fraud problem.

Infocredit Group joins hundreds of organizations who have partnered with the ACFE, the world's largest anti-fraud organization and premier provider of anti-fraud training and education, for the yearly Fraud Week campaign.

During Fraud Week, official supporters will engage in various activities, including: hosting fraud awareness training for employees and/or the community, conducting employee surveys to assess levels of fraud awareness within their organization, posting articles on company websites and in newsletters and teaming up with local media to highlight the problem of fraud.

“Nowadays, fraud - in all its forms - is all around us. Its effects not only burden the economy, but also have an inevitable effect on society since it changes the lives of victims. The only constant is that there is always a victim, whether it involves small-scale online fraud or a serious financial crime. Unfortunately, this is something which is frequently overlooked as it isn’t always obvious,” said Managing Director of Infocredit Group, Theodoros Kringou. “At Infocredit Group, we think it’s important to help raise awareness since the best way to stay ahead of fraud is to keep yourself informed in order to be able to recognize the signs.”

ACFE CEO and President Bruce Dorris, J.D., CFE, CPA, said that the support of organizations around the world helps make Fraud Week an effective tool in raising anti-fraud awareness.

“Fraud is an issue that unfortunately affects people from all walks of life around the world and it takes many forms,” said ACFE President and CEO Bruce Dorris, J.D., CFE, CPA. “Whether it’s a trusted employee stealing from a small business, or organized rings of fraudsters targeting seniors in our community, most people know someone who’s been victimized by fraud. That’s why it’s so important for organizations to join in this fight together in order to raise awareness during this week. It is a serious problem that requires a proactive approach toward preventing it and educating people is the first step.”

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