On March 25th, 2024, the Ifakara Health Institute conducted a 30-minute refresher workshop on fraud awareness for all staff. The workshop aimed to equip employees with essential knowledge on fraudulent practices, detection methods, prevention strategies, and the consequences of engaging in such activities.

The workshop was held from the Dar es Salaam Office, with staff members from Bagamoyo and Ifakara joining virtually via the Google Meet platform.

Benjamin Chimori, the Chief Internal Auditor, led the session and provided important guidance on internal audit matters. This is a routine practice at the institute to help staff stay vigilant against fraud.

About Fraud

Fraud refers to a wrongful or criminal deception intended to result in financial or personal gain. Fraud may also refer to an intentionally deceptive action designed to deny a right to a victim. Types of fraud include tax fraud, credit card fraud, wire fraud, securities fraud, and bankruptcy fraud. Fraudulent activity can be carried out by one individual, multiple individuals or a business firm as a whole.

In finance, fraud can take on many forms including making false insurance claims, cooking the books, pump & dump schemes, and identity theft leading to unauthorized purchases. Fraud costs the economy billions of dollars each and every year, and those who are caught are subject to fines and jail time.

Fraud involves the false representation of facts, whether by intentionally withholding important information or providing false statements to another party for the specific purpose of gaining something that may not have been provided without the deception.

Learn more about fraud here.