Taking It to the Net — BTN 6-5
[Instructor Note: These answers were taken from the ACFE’s 2014 Report to the Nations.]
1. The median loss caused by the frauds in our study was $145,000.
Additionally, 22% of the cases involved losses of at least $1 million.
2. The typical organization loses 5% of revenues each year to fraud; this
3. The median duration — the amount of time from when the fraud
4. Asset misappropriations are the most common fraud, occurring in 85% of
5. Only 9% of cases involved financial statement fraud, but those cases had
6. Over 40% of all cases were detected by a tip — more than twice the rate of
any other detection method.
7. Owners/executives only accounted for 19% of all cases, but they caused a
8. Approximately 77% of the frauds in our study were committed by
9. The vast majority of occupational fraudsters are first-time offenders; only
5% had been convicted of a fraud-related offense prior to committing the