Is Fraud Awareness Training Really Important For All Employees

Is fraud awareness training important for all employees? According to the Association of Certified Fraud Examiners (ACFE), organizations that provide training programs to their employees experience less-costly losses, quicker resolutions of fraud cases, and an enhanced reputation for customer protection. Yet, despite these clear benefits, organizations can resist offering fraud awareness training for all employees.

In the recent ACFE Insights Blog, Guest Blogger Mary Breslin, CFE, CIA, President of Verracy, stresses the importance for companies to incorporate fraud awareness training programs – particularly in light of the workplace disruption created by the pandemic. She also emphasizes that every employee should receive fraud awareness training on a regular basis. Not some employees – all employees.

In the blog, Breslin discusses some of the top reasons and counter arguments she has heard for resistance to fraud awareness training:

1. It’s too expensive. Breslin notes that technology has allowed employers to approach training creatively and cost effectively.
2. Fraud training will teach employees to commit fraud. Breslin notes the benefits of creating fraud fighters would appear to outweigh this potential risk.
3. Employees already have enough common sense to say something when they see something and we have a hotline. Breslin notes common sense does not equal fraud awareness and that providing employees with the vocabulary and confidence they need will encourage them to identify and report fraud.
4. The hotline is enough. Breslin notes that the hotline- absent the vocabulary and confidence to report fraud- is not enough
5. We provide fraud awareness training to the key individuals and or departments; that’s good enough. While Breslin agrees that key individuals/departments may need more specialized fraud training, she notes that training all employees will empower them to identify and report fraud.

Employee training is always important but fraud awareness training is essential! To read ACFE Insights full blog click here.

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