Corruption, Billing Schemes Most Common Among Fraud Cases in Survey
Austin, TX (Vocus/PRWEB ) June 30, 2010 -- The median fraud loss for U.S. organizations is $105,000, according to a survey of Certified Fraud Examiners (CFEs) who investigated cases between January 2008 and December 2009. The study found billing and corruption schemes were the leading types of fraud reported in U.S. cases and others throughout the world.
The Association of Certified Fraud Examiners (ACFE) published the results of the survey in its highly-anticipated 2010 Report to the Nations on Occupational Fraud & Abuse. For the first time, the Report includes global data among the 1,843 cases of fraud that were studied.
Information from CFEs in 106 nations was compiled to develop the benchmarking statistics on occupational fraud losses, detection methods and perpetrators. Since 2002, the biannual Report has evolved and been modified to continue to draw more meaningful information from the experiences of CFEs and the frauds they encounter.
Key findings from the 84-page Report include:
The Report also details findings such as how organizations were affected based upon industry, how the implementation of anti-fraud controls affected exposure to fraud, additional breakdowns of fraud statistics by geographical region and the most common behavioral traits observed among fraud perpetrators.
The 2010 Report to the Nations is available for download online at the ACFE’s web site: ACFE.com/RTTN. The Report is in PDF format.
The first Report to the Nation was published by the ACFE in 1996. The ACFE has published subsequent editions in 2002, 2004, 2006, 2008 and now 2010. Over that time, the Report has come to be regarded as the most authoritative statistical resource available on occupational fraud.
About the Association of Certified Fraud Examiners
The ACFE is the world's largest anti-fraud organization and premier provider of anti-fraud training and education. Together with more than 50,000 members, the ACFE is reducing business fraud world-wide and inspiring public confidence in the integrity and objectivity within the profession.
For more information about the ACFE, visit www.ACFE.com.
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[Via Legal / Law]