Organizations across the globe are losing an estimated 5 percent of their annual revenues to occupational fraud, according to a new report from the Association of Certified Fraud Examiners, with total losses estimated at about $3.5 trillion.

The median loss caused by the occupational fraud cases in the ACFE study was $145,000. Nearly one-fourth (24 percent) of the cases caused losses of at least $1 million.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access