Porte Brown at a Glance:
Services at a Glance:
Industries at a Glance:
Contact Info at a Glance:
Software at a Glance:
Careers at a Glance:
More Facts• Male employees account for 69% of fraud cases in the latest fraud study by the Association of Certified Fraud Examiners, while women are responsible for 31% of the cases globally.• Small organizations are the most vulnerable because of a lack of basic internal control measures.Source: 2018 Report, Assn. of Certified Fraud ExaminersExamine Workplace EnvironmentAttitudes are one important factor in whether or not employees steal. Employees who feel they are treated fairly by their employers are less likely to commit fraud. Many offenses are committed by people who hold grudges and are looking for revenge.Internal fraud drains approximately $4 trillion annually from global businesses, according to recent estimates, and not-for-profit organizations are not exempt.
The median loss suffered by a not-for-profit group victimized by fraud was $90,000, according to the 2018 Report to the Nations by the Association of Certified Fraud Examiners (ACFE).
Although organizations can experience pilferage from volunteers, vendors and other sources, employees account for the highest losses, when factoring in offenses such as fraudulent insurance claims, unauthorized time off and theft of proprietary information. Crimes can be as simple as stealing supplies or as complex as sophisticated financial statement fraud.
More specifically, fraud by managers and key executives generates the highest dollar losses because these employees are in a good position to falsify financial, credential, work-related or test-related documents for personal gain.
What can your organization do to prevent theft? The report by the ACFE found these measures are effective:
Take a zero tolerance stand on fraud. With a few basic procedures in place, internal theft can be significantly reduced -- or even eliminated -- so your not-for-profit organization can flourish.
*Securities offered through 1st Global Capital Corp. Member FINRA, SIPC. Investment advisory services offered through 1st Global Advisors, Inc. We currently have individuals licensed to offer securities in the states of AL, AZ, CA, CO, CT, FL, GA, HI, ID, IL, IN, KY, MI, MS, MO, NV, NJ, NC, OH, RI, TN, TX, WA, WV and WI. This is not an offer to sell securities in any other state or jurisdiction.