Today marked the closing session of the ACFE's 26th Annual Global Fraud Conference in Baltimore, where CRI Group participated as a Silver Sponsor and a Featured Supporter at the largest anti-fraud event in the world.
More than 3,000 anti-fraud professionals were on hand for training, networking, sharing best practices and advancing the fight against fraud.
The work doesn't stop now, however. While the conference lasts only one week (post conference sessions continue through Friday), fighting fraud is a year-round endeavor. That is why CRI Group is a member of the ACFE's Corporate Alliance, joining some of the world's largest and best-known companies in a united front against corruption, fraud and all types of white collar crime.
Along with CRI Group, members of the Corporate Alliance include Airbus, First Gulf Bank, K&N Kenanga Holdings, Mashreq Bank and Raiffeisen Bank International, among others.
Membership in the Corporate Alliance helps organizations:
- Protect themselves from fraud. Direct losses, fines and other legal sanctions can be averted by partnering with the ACFE and demonstrating a commitment to fight fraud through employee training and educational opportunities. An effective anti-fraud program can serve to mitigate or avoid penalties if a rogue employee engages in fraud or corruption.
- Improve the bottom line. ACFE research shows that organizations that have CFEs on staff uncover frauds 50 percent sooner and suffer fraud losses 55 percent lower than organizations without CFEs on staff. The unique expertise CFEs possess in preventing, detecting and deterring fraud has a demonstrable impact on the bottom line.
CRI Group leaders were busy meeting with other Corporate Alliance members and ACFE officials while at the conference in Baltimore to discuss the future of fraud prevention and what organizations can do better protect themselves. CRI Group CEO Zafar I. Anjum, CFE, said that it is important to set an example for other corporate leaders to make fraud prevention and detection a priority:
The partnership we have in the Corporate Alliance exemplifies our organization's commitment to an ethical standard of conduct, the highest level of anti-fraud controls and a culture of transparency. I hope more business leaders follow suit and join forces to take a stand against fraud. -- Zafar I. Anjum, CFE, CEO of CRI Group