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Fraud Facts
Who Reports Fraud?

Of those who detect and report fraud, two out of three tips come from employees.. Many third-party sources, including customers and vendors, also report suspicions of fraud. The Association of Certified Fraud Examiners (ACFE) recommends that, to be effective, reporting systems must be designed to reach out to all potential sources of fraud tips.

 
 
The typical occupational fraud perpetrator is a first-time offender. Approximately 87% have never been charged or convicted.
 
 
Frauds committed by employees cause median losses of $60,000, while frauds committed by owners or executives cause median losses of $573,000.
       
 
 
Organizations without hotlines, who relied on external audits only, only detected 3% of fraud cases
The typical organization loses 5% of its annual revenue to fraud. This figure translates to a potential total fraud loss of more than $2.9 trillion.
 
 
Small organizations are disproportionately victimized by occupational fraud. These organizations are typically lacking in anti-fraud controls compared to their larger counterparts, which makes them particularly vulnerable to fraud.
       
 
 
Nearly one-quarter of frauds involved losses of at least $1 million.
 
 
The average fraud lasts a median of 18 months before being detected.
       
 
 
90% of fraud cases were asset misappropriation schemes.
   
       
       
     

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