10/03/2024

Breaking Down the ACFE's Latest Fraud Report

Many cases of fraud go undetected and unreported

Every two years, the Association of Certified Fraud Examiners (ACFE) releases a comprehensive study on the costs, methods, perpetrators and victims of occupational fraud.

The latest edition, "Occupational Fraud 2024: A Report to the Nations," examines more than 1,900 cases of white-collar crime across 138 countries. As in previous reports, the 2024 study estimates that the average organization loses 5 percent of its annual revenue to fraud.

However, this 5 percent figure is considered conservative, as many cases of fraud go undetected or unreported, and indirect losses—such as reduced productivity, reputational harm and future business loss—are often impossible to fully recover.

Please select this link to read the complete article from OSAP Mission Partner Clark Schaefer Hackett (CSH).