Adding anti-fraud training to your curricula

Sandra Damijan, Ph.D., CFE, is the new Fraud Edge columnist. She’s a lecturer and the program coordinator of the Corporate Integrity Academy at the Faculty of Economics, University of Ljubljana, Slovenia, and the co-chair of the ACFE Higher Education Advisory Committee. — ed.

We’ve increasingly seen the rise of ambiguity, political instability and nationalistic agendas of populist parties across many countries worldwide. Together with the economic slowdown of 2008, these factors continue to pose challenges for businesses operating in such uncertain environments to meet their ambitious goals. Organizations often choose alternative methods of doing business even when this means walking a thin line between what’s ethically questionable, shady or outright illegal.

According to the 2016 ACFE Report to the Nations, the cost of fraud is staggering. The median loss from a single occupational fraud for an organization is $150,000. Financial statement fraud causes by far the greatest median loss per scheme.