Firm News

Fraud Awareness Week Casts Spotlight on White Collar Crime

Posted on: November 8, 2012

FOR IMMEDIATE RELEASE

Media Contact:Linda Green, Marketing Director503.445.3352ACFE: Scott Patterson, (512) 478-9000, ext. 156E-mail: spatterson@acfe.com

Fraud Awareness Week Casts Spotlight on White Collar Crime

Geffen Mesher Joins Ranks of Supporters for Nov. 11-17 Awareness Movement

PORTLAND, OR. – November 5, 2012 - Geffen Mesher,one of Portland's largest locally owned accounting and business consulting firms, announced that it will be participating in International Fraud Awareness Week, Nov. 11-17, 2012 as an official supporter to promote anti-fraud awareness and education. Organizations around the world lose an estimated 5 percent of their annual revenues to fraud, according to a study conducted by the Association of Certified Fraud Examiners (ACFE).

As an official supporter of the movement (also known as “Fraud Week”), Geffen Mesher 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, in a commitment to proactively fight fraud and help safeguard business and investments from this growing problem.

“A good forensic accounting team should be made up of individuals who are experts in what they do, while possessing the desire to dig, delve, ask questions and consider all possible scenarios,” says David Porter, leader of Geffen Mesher’s forensic accounting team. “Our firm’s proactive fraud prevention services include providing clients with best practice recommendations, customized to each client’s company operations and industry.”

During Fraud Week, official supporters will engage in various activities, including: hosting fraud awareness training for employees and/or the community, conducting employee surveys to assess levels of fraud awareness within their organization, posting articles on company websites and in newsletters, and teaming with local media to highlight the problem of fraud.

ACFE President and CEO James D. Ratley, CFE, said that the support of organizations around the world helps make Fraud Week an effective tool in raising anti-fraud awareness.

“While fraud prevention and detection is a year-round endeavor, International Fraud Awareness Week provides a great opportunity to spotlight this serious problem and stress the importance of anti-fraud training and education,” Ratley said. “Businesses and organizations who are involved in this campaign show an understanding that spreading awareness is key in combating the worldwide fraud threat.

“This marks the fifth year since Fraud Week became an international movement, and once again, we want to say ‘thank you’ to all of the Fraud Awareness Week supporters for making it a reality,” Ratley said.

In its 2012 Report to the Nations on Occupational Fraud & Abuse, the ACFE found that:

  • Fraud schemes are extremely costly. The median loss caused by the occupational fraud cases in the ACFE study was $140,000. More than one-fifth of the frauds involved losses of at least $1 million.

For more information about increasing awareness and reducing the risk of fraud during International Fraud Awareness Week, visit www.FraudWeek.com.

The 2012 Report to the Nations is available for download online at the ACFE’s web site: ACFE.com/RTTN. The Report is in PDF format.

About Geffen Mesher

Established in the 1930s, Geffen Mesher and its growing staff of almost 90 serve hundreds of closely held businesses, business owners and high net-worth individuals, some for several generations. Commitment to excellence, relationships and professional growth are hallmarks of this locally owned firm.

About the Association of Certified Fraud Examiners

The ACFE is the world's largest anti-fraud organization and premier provider of anti-fraud training and education. Together with nearly 65,000 members in over 150 countries, the ACFE is reducing the incidence of fraud and providing the training and resources to fight fraud more effectively. For more information about the ACFE, visit www.ACFE.com.

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