Fraud Checkup for Higher Education Institutions
Colleges, universities, and seminaries have many different departments — and many different opportunities for fraud, from the financial aid office to the athletic department, research labs, and finance office.
In the most recent Report to the Nations on Occupational Fraud and Abuse from the Association of Certified Fraud Examiners (ACFE), the top fraud schemes within the education segment were:
- Corruption – 38%
- Billing – 23%
- Cash larceny, cash on hand, and noncash (tied) – 19%
Median losses in this segment were $68,000. Yet fraud can also have an immeasurable impact on an institution’s reputation, student and faculty morale, and donor relations.
Protecting your institution against fraud and detecting it quickly if it does occur can be complex and time-consuming, but CapinCrouse can help. We serve more than 90 higher education institutions of all sizes, and have an in-depth understanding of the unique fraud risks within this segment.
The CapinCrouse Fraud Checkup™ was developed to help higher education institutions and other nonprofits identify fraud risks and provide best practice solutions to mitigate those risks.
Learn more about how the Fraud Checkup works and how it can benefit your institution.
Take our online Fraud Risk and Prevention Questionnaire.