The Association of Certified Fraud Examiners 2016 report to
the nation on occupational fraud and abuse is based on actual fraud cases that
occurred in 114 countries across the world.
The report contains important facts for every organisation
and business owner.
. Median loss from reported fraud cased amounts to $150,000.
. Asset misappropriation was the most reported fraud type, which took place in 83% of the cases but has the smallest median loss of $125,000.
. Financial statement fraud was the culprit in less than 10% of cases but caused the biggest median loss of $975,000.
. Organisations with fewer than 100 employees were the most likely to suffer from fraud in the study, representing about 30% of
the reported fraud cases. The median loss suffered by those firms was $150,000, the same as those suffered by large organisations (10,000 or more employees) and more than organisations with between 1000 and 10000 employees.
. Median loss from reported fraud cased amounts to $150,000.
. Asset misappropriation was the most reported fraud type, which took place in 83% of the cases but has the smallest median loss of $125,000.
. Financial statement fraud was the culprit in less than 10% of cases but caused the biggest median loss of $975,000.
. Organisations with fewer than 100 employees were the most likely to suffer from fraud in the study, representing about 30% of
the reported fraud cases. The median loss suffered by those firms was $150,000, the same as those suffered by large organisations (10,000 or more employees) and more than organisations with between 1000 and 10000 employees.
This report also draws an important conclusion on the implementation
of of anti - fraud controls, as organisations
seem to be getting the message that anti-fraud controls can limit the duration
of and damage caused by fraud schemes.
For more information on this report, please visit the ACFE
website.
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