The Association of Certified Fraud Examiners (ACFE), indicates the average U.S. business loses 5% of revenue to fraud and abuse each year. In a recent study of 1,100+ fraud cases nearly one in four was $1 million or more.
5% of Revenue – On Average – Per Year. That’s a startling fact!
- 36 – 45 years old
- Commits fraud against his own employer
- Works in the finance function or in a finance related role
- Holds a senior management position
- Employed by the company for more than 10 years
- Works in collusion with another perpetrator
Think it can’t happen to you? Few did.