The week serves to raise awareness about the detrimental impacts of fraud and how we can proactively address them.
President Larry Robinson, Ph.D., announces that Florida A&M University (FAMU) will observe International Fraud Awareness Week. This activity builds upon the University’s ongoing efforts to cultivate a culture of accountability and compliance. The week of November 13-19 serves to raise awareness about the detrimental impacts of fraud and how we can proactively address them.
According to the Association of Certified Fraud Examiners’ global study on occupational fraud (Occupational Fraud 2022: A Report to the Nations), organizations lose five (5) percent of its revenue to fraud each year. Acts involving fraudulent behavior negatively impact the University’s reputation by eroding public trust and confidence in the University. Additionally, these acts may result in financial losses to the University that impair the University’s ability to operate efficiently and achieve its goals and objectives.
FAMU has a “zero tolerance” for fraud, and takes allegations of fraud, waste, abuse, and non-compliance seriously. FAMU is committed to promoting consistent organizational behavior by:
- Preventing and detecting fraud;
- Conducting investigations into allegations of fraud;
- Reporting fraudulent activities;
- Respecting protections prescribed in law for persons who report fraud;
- Taking appropriate disciplinary or legal action; and
- Requiring each employee to attend annual fraud awareness training.
During this week FAMU will partner with the Association of Certified Fraud Examiners to champion the need to proactively fight fraud, and promote anti-fraud awareness, education, and training.
Throughout the week, the Division of Audit will send out information to engage the FAMU community with various fraud awareness topics. Increasing awareness of fraud, including the magnitude of the problem, and educating students, staff and stakeholders about fraud prevention, detection, and reporting techniques, is critical for reducing the incidence of fraud against and within FAMU.