The Reality of Fraud

The reality is that fraud is part of our everyday life, however much we like to think otherwise. Banking, Food and the Pharmaceuticals industry are three sectors that are facing some of the highest level of fraud on daily basis.

It is estimated that a typical organization loses around 5% of their annual revenues to fraud. On a global scale the total cost lost to fraud is nearly US$ 4 trillion and this is only the base-line figure for the calculated financial loss, imagine the how the figure grows when we consider all the other elements such as reputational loss, erosion of stake-holders trust, decrease in employees’ confidence, the list goes on. These financials certainly provide a wake-up call for any business that isn’t already actively safeguarding against fraud to think about ways to prevent and detect.

The Crowe UAE Fraud Risk event series provides organizations with the technical and practical training to carry out a fraud examination. These invaluable insights will be shared by experienced industry professional from Crowe and the Association of Certified Fraud Examiners in our 12 free Anti-Fraud Masterclasses taking place in Dubai and Abu Dhabi. Visit https://www.crowe.com/ae/events to register.