
These tips based off the “2018 Report to the Nations on Occupational Fraud and Abuse” will help safeguard your organization from thieves.
Would you leave the front door unlocked to your business or not-for-profit organization? Of course not. That would give thieves easy access to your assets. Yet a surprising number of organizations don’t have strong antifraud controls in place to protect against dishonest people inside their organizations. And theft from insiders — also referred to as “occupational fraud” — can be costly.
Fraud losses vary significantly, depending on the nature of the scam and how soon it’s detected. Globally, the median loss is $130,000, according to the findings from the 2018 Report to the Nations on Occupational Fraud and Abuse by the Association of Certified Fraud Examiners (ACFE). Here’s a closer look at who was affected and how much was lost, as reported in the latest version of this biennial study. Read more