From financial statement shenanigans to fraudulent billing schemes, corporate frauds can be elusive. According to the Association of Certified Fraud Examiners of 959 recent fraud cases in US, fraudster usually operate alone, rarely have a criminal record, are nearly as likely to be female as male.
Fraud Statistics
USD$250,000 median loss associated with male fraudsters
USD$142,000 median loss at public companies
USD$110,000 median loss associated with female fraudsters
USD$78,000 median loss associated with frauds at private companies
46% fraud detected by tips
41% frauds committed by employees earning less than USD $50,000
29% committed by accounting staff
20% found by accident
9% discovered by external auditors
2% committed by IT staff
Source : www.acfe.com
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