In its new guidebook "How to Be a Fraud Fighter in Your Organization," the ACFE reports that there are three main types of occupational fraud: asset misappropriation, corruption and financial statement fraud. They also suggest that the three best ways to protect your firm from fraud are to conduct regular fraud training, become aware of red flags and trust your instincts, and report irregularities.

Why is this important? Because fraud can cause job losses, loss of savings and investments, weakened trust in public institutions and significant stress on resources.

Red flags of fraud are behavioral signals that potential fraudsters often display. While the tells don't indicate that a crime has occurred, they point to traits that many thieves exhibit. To protect your firm, get to know the six most common red flags.

Since the start of the pandemic, anti-fraud professionals have seen a rise in cyberfraud and continued as the pandemic drags on.

The same professionals expect to see an 82% increase in cyberfraud through next May. They also expect a 71% change in the level of fraud impacting their organizations.

More than a third of them claim that cyberfraud-related issues pose a challenge to their anti-fraud programs.

While 87% said they currently cover cyberfraud in fraud awareness training, 9% said they plan to do so in the future. Source: ACFE and Grant Thorton

IAS can help you identify, deter, investigate and resolve fraud in your company. We can audit your internal controls, create a loss prevention and internal audit program, conduct loss prevention workshops, and most importantly investigate suspected fraud.

Our investigations can obtain signed confessions, restitution and even prosecutions.