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< BACK TO COVER LETTER

 

WHY IT'S IMPORTANT TO LEARN ABOUT FRAUD

 

Fraud awareness and recognition can save you from losing a little or losing everything.  It can save you from emotional and financial ruin. 

 

We all face acts of deception nearly every day and for the most part, we recognize nonsense when we hear it or see it.   Unfortunately though - we often don't. 

 

For that reason, profits from scammery rival profits from the sale of drugs.  There are hundreds of scams worldwide with millions of victims every year and trillions in profits for the fraudsters.  For examples of fraud schemes, see a partial list of scams in our Library.

 

Only 20% of fraud is ever reported.  While for many there is unwarranted shame attached to having been defrauded, for most the challenge is in recognizing the crime for what it is and reporting it properly.

 

Because of fraud, you pay more for insurance premiums, billions of Medicare and state healthcare funds are lost - meaning less money available to take care of you, taxes are higher to pay for government funding, prices are higher at the store, millions are left homeless ... the list goes on and it is horrific.

 

In their 2014 Report to the Nations, which covers occupational fraud, The Association of Certified Fraud Examiners* states the following:

 

Survey participants estimated that the typical organization loses 5% of revenues each year to fraud. If applied to the 2013 estimated Gross World Product,

this translates to a potential projected global fraud loss of nearly $3.7 trillion.

 

Occupational fraud.  $3.7 trillion estimated.  Which comes out of our pockets in higher prices so the companies can survive and make payroll.  And that's only one fraud specialty.  http://www.acfe.com/rttn/docs/2014-report-to-nations.pdf, page 4, Summary of Findings

 

By contrast, the 2011 United Nations Office of Drugs and Crime research report estimating illicit financial flows resulting from drug trafficking and other transnational organized crimes** quotes figures of $1.6 trillion and $2.1 trillion.  https://www.unodc.org/documents/data-and-analysis/Studies/Illicit_financial_flows_2011_web.pdf, page 7, Preface

 

Whatever your occupation, culture, education, social status or credit rating, realizing that no one is immune to fraud and learning to recognize the signs can and will protect you, your home, your children, and your family from financial ruin.

 

Next: Menu of Fraud Recognition Courses

 

* "Certified Fraud Examiners uncover and assemble evidence of fraud and tell law enforcement who to arrest." - Frank Walker, CFE, Attorney Liaison Officer, dec.

** The report does not include fraud crimes.

 

 

 

 

 

 

We are not attorneys and don't pretend to be.  In our experience, the information and guidance offered on this site have proven to be effective; however, we always recommend that you consult with an attorney.

If you have doubts about Fraud Aid, Inc. do not hesitate to contact federal enforcement (FBI, Secret Service, RCMP), Scotland Yard, or local law enforcement to check us out.

Information provided about lotteries and lottery scam: Fraud Aid, Inc. is not affiliated with any pay-to-play or free online lottery or Sweepstakes games and derives no income from any pay-to-play or free online lotteries or Sweepstakes or any of their participating sponsors with the possible exception of a sponsor's independent advertising unassociated with any drawings promotion; nor does Fraud Aid promote or sponsor any lotteries or Sweepstakes or numbers drawing of any kind.

 

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