How Financial Literacy Effects Fraud
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The financial fraud is the biggest challenge, not only limited to healthcare but also to other organizations that indulged in financial activities. The National Health Care Anti-Fraud Association (NHCAA) estimates that the financial losses due to health care fraud are in the tens of billions of dollars each year. This session will address several examples of financial insecurity and then suggest tools and methods that will contribute to reducing incidences of financial insecurity that leads to fraudulent behavior. While there are 8 basic steps to identify and detect fraud dependent upon the industry and role held, one of the key reasons why fraud occurs is financial insecurity.
The certified fraud examiner/expert, Ms. Horowitz will elaborate different 8 steps and then delve into the financial insecurity mindset that leads to justify fraud activities. It will also cover how financial literacy is the primary contributing factor and go over a few principles that mitigate behavior based upon proven methods from leading experts.The methods are based upon 47 principles of financial fitness that every individual will benefit from and give you examples why it’s important to empower employees with a foundation of financial literacy to support company objectives and encourage success.
Financial insecurity causes good people to feel trapped with no resolution out. It is not only a compliance issue, but a corporate leadership challenge. Retaining good employees is not only a function of paying them appropriately but recognizing the influences that encourage behavior on and off the job that directly affect employee life.
Areas Covered In The Session:
- The Foundation of fraud occuring
- Examples of fraudulent activity that occurs in healthcare and other companies
- Strategies to alleviate or eliminate financial fraud
- To know why and how financial fraud occurs
- To identify factors that influences financial fraud
- To gain new ideas and tools to reduce financial fraud proclivities in your healthcare or other organization
Who Should Attend:
- Healthcare CEOs
- Healthcare CFOs
- Business Owners
- Healthcare Compliance, Privacy & Security Officers
- Human Resource Officers/Professionals
- People desiring to learn bout Financial Fraud
About The Speaker:
Ester Horowitz, CHC, CFEC, CITRMS, CMC is certified in healthcare compliance, certified fraud examiner candidate, certified identity and has been in the industry for 30 years. As a business growth expert involved in emerging healthcare markets, it required a thorough knowledge of compliance specific to financial fraud and privacy. Using federal sentencing guidelines that every industry follows, Ms Horowitz was an interim compliance office for five years working with health enterprises guiding them how to grow responsibly and effectively. Ms Horowitz shifted her focus to financial literacy as a tool to combat fraud and empower individuals to become financial fit and free. She recognized that when you empower others how to stabilize their financial life and encourage its growth, the approach encourages loyalty, alleviates financial pressures that lead to fraudulent activities, builds self-esteem, and creates a cooperative and collaborative culture.