Fraud Awareness Campaign Launches This Week

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LexisNexis Risk Solutions is highlighting International Fraud Awareness Week with a new public awareness campaign.

The Association of Certified Fraud Examiners estimates that companies lose 5 percent of their revenue each year to fraud. The ACFE is the main group behind the FraudWeek.com website, but LexisNexis is among the organizations involved in the effort. It is offering fraud-fighting resources from the LexisNexis Fraud Defense Network, including a new downloadable Identity Fraud Prevention Playbook along with a Fraud Awareness Week microsite.

Accountants and tax preparers need to be especially aware of fraud and identity theft risks to safeguard their clients. According to the Federal Trade Commission, half of all identity theft incidents reported last year pertained to government documents and benefits, most of which related to tax and revenue.

Separately, a company that’s not officially part of the International Fraud Awareness Week effort, IDology, released its own 2016 Fraud Report on Wednesday, in which it polled senior executives from IDology’s customer base about fraud trends in their industries. The report found a decrease in call center fraud as organizations become better prepared to prevent fraud. Small dollar fraud continues to be the most prevalent form encountered by the executives surveyed. Meanwhile, mobile fraud tactics appear to be shifting into new areas, and organizations are investing more money to protect themselves in the mobile channel.

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