Combating Increased Fraud Risk During the Pandemic

Fraud Risks are Increasing...Why is this happening to organizations? Where could fraud occur in your organization? What should organizations be doing to mitigate this growing risk? Fraud is typical in almost every organization today, usually occurring at the level of 5-10% of annual revenue. Today's pandemic is impacting employees in many ways, including increased financial stress, which is enhanced daily with job losses and furloughs. To effectively monitor and manage a potential increase in fraudulent activity, organizations should be taking appropriate actions to offset the increase of fraud risk. Webinar learning objectives: •Understand the Fraud Triangle •Review recently released fraud statistics •Understand why fraud risk is increasing during the pandemic •Learn what areas of your organization are most susceptible to fraud today •Examine the key components of an effective Fraud awareness and mitigation program •Discuss areas where internal audit can focus to mitigate growing fraud risks within your organization Presenters: Tim Lietz, CIA, CRMA – Director Risk Advisory Services and Deron Rossi, CFS – Fraud Subject Matter Expert, both of Experis Finance