Organizations Worldwide Lose 5% of Revenues to Fraud
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Posted by  in Fraud Awareness

Happy Fraud Awareness Week!  According to research conducted by the ACFE (Association of Certified Fraud Examiners) and published in the 2012 Report to the Nations on Occupational Fraud and Abuse, organizations worldwide lose an estimated 5 percent of annual revenues to fraud.

The ACFE’s 2012 Report to the Nations on Occupational Fraud and Abuse is based on data compiled from a study of 1,388 cases of occupational fraud that occurred worldwide between January 2010 and December 2011. All information was provided by the Certified Fraud Examiners (CFEs) who investigated those cases. The fraud cases in ACFE’s study came from 94 nations — providing a truly global view into the plague of occupational fraud.

Since the inception of the Report in 1996 (originally titled The Wells Report), the ACFE has released six updated editions — in 2002, 2004, 2006, 2008, 2010 and the current version in 2012. Like the first Report, each subsequent edition has been based on detailed case information provided by Certified Fraud Examiners (CFEs). With each new edition of the Report, the ACFE adds to and modifies the questions asked of our survey participants in order to enhance the quality of the data collected. This evolution of the Report to the Nations has enabled the ACFE to continue to draw more meaningful information from the experiences of CFEs and the frauds they encounter.

Read more about the report here.

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