International Fraud Awareness Week kicks off Nov. 15, 2020 worldwide
Toronto, ON – Organizations worldwide lose an estimated 5 percent of revenue annually, according to a study conducted by the Association of Certified Fraud Examiners (ACFE). The ACFE’s 2020 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 rising seriousness of global fraud precipitated Daisy Intelligence to participate as an official supporter for International Fraud Awareness Week, Nov. 15-21, 2020, to promote anti-fraud awareness and education. Commonly known as Fraud Week, the movement champions the need to proactively fight fraud and help safeguard business and investments from the growing fraud problem.
Daisy Intelligence 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, Daisy Intelligence will engage in various activities, including: hosting an insurance fraud awareness webinar on Thursday, Nov. 19, conducting quizzes and polls to assess levels of fraud awareness within their online community, posting articles on company websites and in newsletters, and partnering with local media to highlight the issues around global fraud.
“In times of recession, fraud, waste and abuse tends to rise as some individuals and businesses try to maintain their income through illegal means,” said Gary Saarenvirta, Founder and CEO of Daisy Intelligence. “It is a crucial time for AI systems to assist insurers to detect and proactively minimize fraud. It is also a time to educate the public that insurance fraud is a crime.”
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 Dorris. “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 2020 Report to the Nations is available for download online at the ACFE’s website: ACFE.com/RTTN. The Report is in PDF format.
About Daisy Intelligence
Daisy offers insurers AI-Powered solutions to quickly detect and efficiently investigate fraudulent activity, saving millions of dollars in claims payments. Using a branch of AI called reinforcement learning, along with Daisy’s patent-pending Theory of Risk™, we are on the cutting edge of AI technology and revolutionizing risk management.
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.
DJH Marketing Communications, Inc. (for Daisy)