11010323 - Level I Zoom

Understanding Vulnerabilities:

• Cash intensive environment intensifies temptation to steal. • A cash intensive environment without good internal controls significantly increases the likelihood of theft and fraud. • Increasing the probability of discovery decreases the probability that theft or fraud will succeed.

Importance of Effective Regulation

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Ensuring that Tribes are the Primary Beneficiaries of Gaming Revenues

• Occupational Fraud and Abuse is Projected to Cost Businesses Worldwide Nearly $4.7 Trillion Annually. • Approximately 5% of the Annual Revenues of an Average business will be lost to Occupational Fraud. • Frauds lasted a median of 12 months before being detected, resulting in a median loss of approximately $100,000.

Source: 2022 Report to the Nations on Occupational Fraud and Abuse, Association of Certified Fraud Examiners (2022 Report).

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Homer Law, Chtd. 2020

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