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Identifying and Preventing Fraud to Keep Your Profits Out of the Wrong Pockets
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It's estimated that companies will lose about 5% of annual revenue to fraud or $4.7 trillion globally. While we dug into how the pandemic created opportunities for fraud in a previous episode, there is so much more business leaders and owners need to be aware of to prevent fraud before it's too late. In this episode of the But Who's Counting? podcast, host David E. Hartley sits down with Anders Partner and Director + Forensic, Valuation and Litigation, Kevin Summers, to dig into what you need to know, including:
- One of the best ways to prevent fraud in your organization
- How fraudsters alter documents for false expense reporting
- Real-life fraud examples, including the "praying AP clerk" and the "penny-pinching office manager"
- Why your company should have a process for setting up vendors
- Top 5 steps to take if you suspect fraud in your company
- Key takeaways from ACFE's report, Occupational Fraud 2022: A Report to the Nations
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