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Mazars is pleased to support International Fraud Awareness Week

Today is the start of International Fraud Awareness Week which is a global effort to minimize the impact of fraud by promoting anti-fraud awareness and education, creating an anti-fraud culture.

Anti-fraud initiatives are especially important to Mazars’ Public Sector Counter Fraud Team, with public sector fraud costing the UK an estimated £37.5 billion, it is always important to highlight the financial loss, reputational damage and adverse staff morale that can arise as a result of fraud.

Cabinet Office minister Chris Skidmore speaking at a recent public sector counter fraud awards ceremony highlighted the importance of tackling fraud within the public sector:
“The loss we know about and actively measure is in areas such as tax, welfare and healthcare fraud. We all have a significant role to play in developing new and innovative ways to tackle this problem” he said.

Preventing and detecting fraud loss is therefore critical to helping the public sector make savings.

“I am really proud to be here with you all to celebrate your great work, it is especially pleasing that it is from such a diverse range of organisations across the public sector” Skidmore added. “What you do day in day out to tackle fraud head on means that taxpayers can have more of their money going into essential services and that the likelihood of fraud is reduced. You set the tone in your organisations that fraud must be found and dealt with. This is what we are here to recognise this evening.”

Mazars’ Public Sector Counter Fraud Team know the importance of fraud awareness within the public sector and have a dedicated team of counter fraud professionals who have a wealth of experience in proactive fraud work, complex fraud investigations and managing fraud.

Our 5 tips are:

  1. Recognition – Every organisation is at risk of fraud, including you!
  2. Awareness – Do your staff know what fraud is and how to report it?
  3. Prevention – Do not wait for fraud to find you, be prepared!
  4. Recovery – Can losses be recovered? Do you know how?
  5. Learn – Put in place measures to stop the same fraud happening again.