Get Ready: International Fraud Awareness Week

November 12-18, 2023 is International Fraud Awareness Week and I know what you are thinking: “Didn’t we just have an entire month dedicated to cyber fraud and cybersecurity in general?” And you would be right that October’s Cybersecurity Awareness Month was a great way to train your workforce to be the last line of defense against external fraudsters. Next week, however, focuses on preventing traditional types of fraud such as money laundering, bribery and identity theft.

According to a study by the Association of Certified Fraud Examiners (ACFE), organizations that offered fraud awareness training saw an average decrease in losses due to fraud of over 38%. KnowBe4 is proud to be an official supporter of International Fraud Awareness Week and to offer new-school, anti-fraud training in our Security Awareness Training and Compliance Plus training libraries. 

When we say “new-school training,” we mean a cadence of frequent, shorter training content that can be integrated with your best-in-class security training. Let's look at one example of how this can be implemented.  ACFE and others strongly recommend the use of and training around hotlines and reporting mechanisms to educate and empower employees to speak up when they see something that might be fraud related. When organizations send one, annual reminder in their annual compliance training, and that information is not leveraged for 3 or 4 months, they are likely to forget they even knew it. KnowBe4 has over 193 pieces of training content related to incident reporting that average about 10 minutes. This makes it easy for organizations to conduct quarterly training campaigns: 

Believe it or not, organizations that have adopted this more frequent approach to training have seen employees respond very positively to this cadence - they prefer shorter, more digestible pieces of content. Also they remember how to access the training and that they need to complete it. We see higher completion rates and increased satisfaction rates from organizations that take this approach. 

Many organizations are also using our content manager feature to include their own unique links and/or phone numbers for reporting with each of these training campaigns. This reinforces the “see something and say something” message that helps prevention and early detection from all forms of fraud.  Contact your KnowBe4 representative to have them help you build a compliance training program that works for your industry, culture and organization. We have compliance content specialists that work with over 8000 global organizations that are combating fraud using KnowBe4’s Security Awareness Training and Compliance Plus platforms. We would love to share more best practices with you and help you be prepared for International Fraud Awareness Week both for this year and next year.

KnowBe4 enables your workforce to make smarter security decisions every day. Over 65,000 organizations worldwide trust the KnowBe4 platform to strengthen their security culture and reduce human risk.