For Immediate Release
November 18, 2019
For More Information Contact:
Crowe UAE: Nadeem Maniar, +971 43259900
ACFE: Sarah Hofmann, (512) 478-9000
Crowe UAE Joins Movement to Shine a Spotlight on Fraud
International Fraud Awareness Week kicks off Nov. 17, 2019 worldwide
Dubai, United Arab Emirates– 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 Crowe UAE 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.
Crowe UAE 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 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.
Crowe UAE, Director – Fraud & Forensic Services Nadeem Maniar, said that “collaboration with the professionals and working towards a common goal of fighting fraud together would help organizations to achieve their objectives. No better time than to take the initiative during the Fraud Awareness Week. During this week in collaboration with Al Nazaha Association we have organized multiple fraud awareness sessions at some leading Universities in the UAE to promote the concepts of Corporate Integrity, Anti-Fraud and developing the profession”
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.”
For more information about increasing awareness and reducing the risk of fraud during International Fraud Awareness Week, visit FraudWeek.com.
The 2018 Report to the Nations is available for download online at the ACFE’s website: ACFE.com/RTTN. The Report is in PDF format.
About Crowe UAE
Crowe UAE is the 7th largest firm of auditors and business advisors in the UAE. Connecting deep industry and specialized knowledge with innovative technology, our dedicated professionals create value for our clients with integrity and objectivity.
We accomplish this by listening to our clients – about their businesses, trends in their industries, and the challenges they face. We forge each relationship with the intention of delivering exceptional client service while upholding our core values and our industry’s strong professional standards. Crowe invests in tomorrow because we know smart decisions build lasting value for our clients, people, and profession. For more information, visit www.crowe.ae
About the Association of Certified Fraud Examiners
Based in Austin, Texas, the ACFE is the world's largest anti-fraud organization and premier provider of anti-fraud training and education. Together with more than 85,000 members, the ACFE is reducing business fraud worldwide and inspiring public confidence in the integrity and objectivity within the profession. For more information, visit ACFE.com.