ACFE Report Provides Insights on Occupational Fraud in the U.S.
Corruption, Billing Schemes Most Common Among Fraud Cases in Survey
Austin, TX (Vocus) 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:
• Fraud schemes among U.S organizations are costly. Among the 1,021 U.S. cases in the study, the median
fraud loss was $105,000. Billing schemes were present in 27.6 percent of these cases, while corruption was
reported in 21.9 percent of cases.
• Fraud committed from the top of an organization is the most damaging. While a large percentage of U.S.
frauds in the study were committed by lower-level employees (46.2 percent) and caused a median fraud loss of
$50,000 it was frauds committed by owners/executives (17.1 percent) that did the most damage with a median
loss of $485,000. Frauds committed by managers (36.7 percent) had a median loss of $150,000.
• A slight gender gap still exists in U.S. fraud cases. More than 57 percent of the U.S. frauds in the study were
perpetrated by males. However, this gender gap is narrower than what was found in cases from most other regions