Fraud Stats and a Prevention Checkup
For the last six years, the Association of Certified Fraud Examiners (ACFE) has published an annual Report to the Nation on
Occupational Fraud and Abuse. The latest report, based upon 663 occupational fraud cases entailing over $7 Billion in losses, provides the most detailed view yet of how occupational fraud affects organizations. Five areas are covered:
the cost of occupational fraud and abuse
the methodologies
the victims
the perpetrators
the
legal outcomes of fraud cases
With certified fraud examiners estimating that six percent of revenues will be lost in a year as a result of occupational fraud and
abuse, this report becomes vital reading for every loss prevention officer.
Once you've read about the problem, it's time to pinpoint your institution's vulnerabilities so you can proactively
identify and manage your fraud risks. Use this ACFE checkup to help you determine if you have adequate anti-fraud controls in place.
ID Fraud Prevention Training: Access a 10 minute sample of our on-demand training "I.D. Fraud Facts: What Every Bank MUST Know", or order the complete program on audio tape (with materials) or for delivery via the Web. Click here.
Copyright, 2003, BankersOnline. First published 01/15/03.
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