ACFE Study of Fraud
Terms in this set (16)
Loss due to fraud is equal to _____% of revenues each year.
-Median loss of $__________.
Fraud lasted a median of _____ months before being detected.
What were the top 2 asset misappropriation schemes that were most common?
Billing and non cash schemes
Fred most likely to be detected by _____.
And the main way this was reported was by_____.
_____ and ______ pose the greatest risk to small organizations.
__________ was the most important contributing factor in fraud being perpetrated.
Lack of controls.
3 industries most affected by fraud:
2. Government and Public Administration
How often is the ACFE Study of Fraud done?
Every 2 years
Most perpetrators were ______.
Perpetrators with biggest loss due to fraud were ______.
Most fraud was committed by _____ person(s).
3 Departments where fraud occurred most often were:
Majority of frauds were committed by ______ offenders.
The two most common behavioral red flags were ______ and _____.
-living beyond means
Main reasons cases were not referred to law enforcement was ______.
fear of bad publicity
The research indicates that _______ of victim organizations do not recover any of their loss.
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