OCCUPATIONAL FRAUD COSTING ORGANISATIONS 5% OF ANNUAL REVENUE
March 18th, 2024
Occupational fraud is costing private and public organisations worldwide 5% of their annual revenue, with losses topping USD1 million in 22% of cases and averaging USD1.7 million, according to the latest global survey from the Association of Certified Fraud Examiners (ACFE). Based on 1,921 fraud cases investigated by Certified Fraud Examiners (CFEs) worldwide between January 2022 and September 2023, the ACFE’s 'Occupational Fraud 2024: A Report to the Nations report' (1) showed total fraud losses over this period for these cases hit USD3.1 billion, which the ...
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