March 2024 is the 20th Anniversary of Fraud Prevention Month in Canada
Our shared responsibility to prevent, detect and report fraud
Did you know that March 2024 marks the 20th anniversary of Fraud Prevention Month in Canada? Fraud Prevention Month is an annual campaign that seeks to help you recognize, reject and report fraud. The theme of this year’s campaign is “20 years of fighting fraud: From then to now.”
If you would like to see how fraud has evolved since 2004, take a moment to review the Canadian Anti-Fraud Centre’s resources describing fraud from then to now.
The university has implemented various measures to protect our assets from digital and external threats. However, safeguarding our institution from internal fraud through proper asset management and financial stewardship is equally crucial.
The university’s Fraud and Financial Irregularity Reporting Policy defines internal fraud as “any unlawful action characterized by deceit, concealment, or a breach of trust…” Some examples of fraud and financial irregularities in a university setting include:
- Stealing from the cash register or petty cash.
- Collecting cash receipts from customers and not recording them.
- Authorizing or receiving payments for goods not received or services not performed.
- Purchasing personal items on the university purchasing card or through a travel and business expense claim.
- Read the complete list of examples here.
Every employee across our extensive campus network plays a crucial role in preventing fraudulent activities that could hurt our university.
It’s up to all of us to do our part to prevent, detect and report any financial fraud we may come across. If you see something, say something! Download the Prevention, Detection, and Reporting guide to learn more about making the right decisions regarding UM assets.
It takes courage to report a fraudulent incident. But remember, it helps protect the university’s assets and reputation and encourages a safe and comfortable working environment for everyone.
Financial stewardship is everyone’s responsibility. By fostering a culture of transparency, accountability, and ethical conduct, we all contribute to a responsible university environment.
If you have not already done so, take time to complete the course entitled “Financial Stewardship & Ethical Conduct (Fraud)”, available on UM Learn.