The Pierce County Housing Authority has taken steps to improve its financial safeguards since a $7 million misappropriation two years ago, but more needs to be done, according to an accountability audit released today by the Office of the Washington State Auditor.
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While we may never be true experts in all aspects of fraud, we can work to better understand it. That’s why to round out the 2022 International Fraud Awareness Week, the Office of the Washington State Auditor has put together a list of our favorite movies, documentaries, shows and podcasts to help you understand the many complex sides and angles of fraud.
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The Association of Certified Fraud Examiners (ACFE) recently reported that nearly a third of all fraud cases occur because of a lack of internal controls. When your government has anti-fraud controls in place, you not only increase your ability to detect fraud quicker, but also decrease potential losses resulting from fraud.
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The disruptions caused by the COVID-19 pandemic resulted in increased dependence on technology and electronic payment networks. This shift has created new opportunities for bad actors to steal public resources and assets from your government.
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The COVID-19 pandemic required governments and other organizations to adjust their operating structure to a remote environment. For many, this structure became the new norm, and governments continue to operate remotely or in hybrid formats.
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While preventing employee fraud is an organization-wide effort in your government, creating a fraud-prevention culture starts at the top with elected officials and members of appointed boards. That’s why SAO’s Special Investigations Team has developed a guide for these leaders to help them better understand their role in fighting employee fraud in their governments.
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While SAO is always promoting awareness around preventing, detecting and deterring fraud, we’re ramping up our efforts next week in honor of International Fraud Awareness Week, which kicks of Nov. 13. Here’s a sneak peek of what we have in store.
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Today the Office of the Washington State Auditor released a fraud report and audit of Mason County Fire District No. 12, showing almost $70,000 in misappropriated public funds, as well as $95,000 in unsupported expenses.
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When your government becomes aware of a known or suspected loss of public funds, state law requires that you immediately report it to the State Auditor’s Office. If you’ve reported a loss in the past and are coming back to report something new, you may notice some new questions on the reporting form.
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Fraudsters can impersonate your employees and vendors to redirect Automated Clearing House (ACH) payments meant for payroll direct deposits or vendor payments. You need to stay vigilant and ensure your government has strong internal controls. To help you, SAO has developed a new guide that offers advice on developing ACH payment process policies and employee training, establishing a verification process, and monitoring for unauthorized payee account changes.
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