New ACFE Report Indicates Occupational Fraud Persists Globally

Worldwide, organizations lose an estimated 5 percent of their annual revenues—possibly more than $3.5 trillion—to fraud each year, according to the Austin, Texas-based Association of Certified Fraud Examiners (ACFE) 2012 Report to the Nations.

Small businesses, many of which lack sophisticated systems to detect and thwart fraud, are particularly vulnerable to occupational fraud, which is defined as schemes in which an employee abuses the trust placed in him or her by an employer for personal gain. This is “a threat faced by all organizations worldwide,” said the report, a new version of which is issued every other year.

“As in previous years, what is perhaps the most striking about the data we gathered is how consistent the patterns of fraud are around the globe and over time,” wrote James D. Ratley, ACFE’s president and CEO, in the latest report.

Affiliations

Accredited PBSA
ACFE
FCRA
NAPBS
NCISS
PBSA

Private Investigation News & Alerts

Asset Searches in Divorce SettlementsFeatured - Asset Searches in Divorce Settlements
Divorce can get pretty complicated, especially when it comes to splitting up assets. Sometimes, people might even try to hide their assets to sway the divorce settlement in their favor. That's where...read more ❯
A Comprehensive Look into Elder Abuse Investigations in Nursing HomesElder Abuse Investigations in Nursing Homes - Featured
The care and well-being of the U.S. elderly population is a huge proponent of families lives, and nursing homes play a crucial role in providing a safe and supportive environment for senior...read more ❯
Corporate Background Checks and Current TrendsCorporate Background Checks and Current trends - featured
Trust and credibility play huge role when considering organizations have increasingly turned to thorough background checks to ensure they make informed decisions when hiring new employees. Corporate...read more ❯