November 7, 2011
Around Town by Neal Tepel
Few people would be surprised to learn that fraud in the workplace is on the rise. But what is alarming, is many organizations spend little to no time thinking about fraud or how to minimize its impact on the business. More than ever before, companies are at risk from employees looking to beat the system and from external parties who are constantly finding new ways to infiltrate systems and rob an organization of its assets. The many steps business managers can take to reduce fraud risk will be discussed on November 18th.
In 2010 the Association of Certified Fraud Examiners (ACFE) published summary findings of more than 1800 cases of fraud reported by Certified Fraud Examiners between January 2008 and December 2009. A typical organization loses 5% of revenue from fraud annually. Smaller businesses were disproportionately affected often because they lack the resources to address the issue.
On Friday November 18th, Armao, Costa and Ricciardi, and First Trade Union Bank are presenting a one hour, critically important seminar on workplace fraud at no charge. Seating is limited so an RSVP to Ann Parson is needed: Email aparson@ftub.com or call 617-728-7305. This interesting and informative program is taking place at the Nassau County Bar Association, 15th and West Streets, Mineola NY 11501 from 10:00am to 1:00pm.
