The largest anti-fraud organization in the world, the Association of Certified Fraud Examiners (ACFE), has stated that it is prepared to assist in lowering the incidence of fraud and white-collar crime in the nation.
In addition, the association promises to support its members’ efforts to prevent, detect, and discourage fraud by providing cutting-edge training and cultivating a vibrant, international network of anti-fraud specialists.
In a news release issued to commemorate this year’s anti-fraud awareness week with the subject “Together We Can Fight Fraud,” the Ghana branch of the ACFE made this declaration. The statement was signed by Madam Rebecca Lomo, the chapter’s president and a Certified Fraud Examiner (CFE).
The holiday will be commemorated globally from November 13 to November 19, according to a statement dated Monday, November 14.
Every year, the ACFE designates a week in November to raise public awareness of fraud and how to combat it.
The organization of Fraud Examiners defines fraud as any activity that intentionally “misrepresents the truth or conceals a material fact to compel someone to act to his or her detriment.” Fraud is defined as any activity that relies on deceit to accomplish a gain.
According to the statement, among other things, ACFE sets rigorous standards, offers certifications through the CFE examination, and mandates a strong code of professional behavior and ethics for CFEs.
The association has chapters in more than 180 countries, including Ghana, and its headquarters are in Austin, Texas, in the United States.
The statement read, “The Ghana Chapter of the ACFE is proud to participate in the celebration of the 2022 Anti-Fraud Awareness Week and has adopted the fraud embraces all the varied means that human ingenuity can devise, which are resorted to by one party to get an advantage over another through false representation or concealment of material fact.
The three main components shared by all frauds are pressure, opportunity, and rationalization, according to Dr. Donald Cressey, a criminologist whose research on embezzlers led to the term “trust violators.” He called this the “fraud triangle.”
He came to the conclusion that if all three factors are present, a person is quite likely to engage in fraudulent activity.
According to the ACFE report on Fraud to the Nations, fraud costs the world US$3.7 trillion annually, the statement stated.
“The importance of the fraud problem is not attributable to the growth and complexity of the problem, but rather to the individuals who commit fraud and their motivations. Unfortunately, fraudsters pass for honest individuals and seem less inclined to perpetrate fraud; they are devout and saintly, highly educated and intelligent, in a position of authority and wealth, as well as self-assured and self-controlled.
They easily build relationships and have attractive dispositions, it is claimed.
“We at ACFE think that by working together, we can lessen fraud in our beloved nations.
In order to assist the global initiative to lessen the effect of fraud by boosting anti-fraud awareness and education worldwide, the statement added, “we are glad to encourage you to participate in this year’s International Anti-Fraud Awareness Week.”