Corruption the Most Common Scheme Among Fraud Cases in Survey
ACFE Report Provides Insights on Occupational Fraud in Europe
Corruption, Billing Schemes Most Common Among Fraud Cases in Survey
ACFE Report Estimates Organizations Worldwide Lose 5 Percent of Revenues to Fraud
Global data from fraud experts is reflected for the first time in the 2010 Report to the Nations on Occupational Fraud and Abuse. Organizations around the world lose an estimated five percent of their annual revenues to fraud, according to a survey of Certified Fraud Examiners (CFEs) who investigated cases between January 2008 and December 2009. Applied to the estimated 2009 Gross World Product, this figure translates to a potential total fraud loss of more than $2.9 trillion.
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