Fraud can be costly for your organization, so it is important to educate your employees on what constitutes fraud and what red flags they should look out for. In 2018, fraud cost companies more than $7 billion in total losses with a median of $133,000 in losses per case. For 22% of cases fraud caused losses of over $1 million, which is a devastating blow that many organization’s bottom lines cannot recover from.
Proper employee training can prevent your company from falling victim to the most common types of fraud, including asset misappropriation, corruption, and financial statement fraud. Furthermore, dedicating time to train your entire workforce on fraud sends the message that this is an issue that your company takes seriously and will not be tolerated.
It is equally important to educate your employees on how to prevent fraud from sources outside your company as it is to recognize potential red flags within it. Threats like ransomware, spoofing, and phishing are on the rise and every employee that uses a computer, company smartphone, or email is a potential entryway for these dangerous types of malware.
OpenSesame helps protect companies like yours with the most comprehensive catalog of elearning courses to train and develop your workforce on topics such as fraud and IT security. Check out these courses, offered through OpenSesame, today to get started.
Be sure to also check out this recent OpenSesame webinar with expert Dr. Robert K. Minitti from OpenSesame course publisher Wolters Kluwer to gain additional insights on multiple types of fraud schemes, including asset misappropriations, corruption, financial statement fraud and cyber frauds, as well as methods of employee fraud prevention training to keep your company compliant and how to incorporate fraud as part of your learning and development strategy.
For more information on how OpenSesame can help you save time, money, and curate the right courses for your training program, contact us today at info@opensesame.com.