Page 114 - ACFE Fraud Reports 2009_2020

Letter from the President

On behalf of the ACFE, I am pleased to present the

2006 Report to the Nation on Occupational Fraud and
Abuse, the most comprehensive examination of the
effects of occupational fraud to date.

Based on 1,134 fraud cases reported by the Certified Fraud Examiners who investigated
them, the 2006 Report categorizes the ways in which serious fraud occurs and measures
the losses organizations suffer as a result of occupational fraud. It also examines the charac-
teristics of the organizations that are victimized by occupational fraud and abuse, as well as
the characteristics of the employees who commit these crimes.

This Report offers valuable lessons and insight about how fraud is committed, how it is detected, and how its impact can be
reduced. This information should be of great interest to all organizations, businesses, government agencies, and anti-fraud
professionals that are working to limit their exposure to fraud.

First published in 1996, the Report to the Nation was conceived by the ACFE’s founder and chairman, Joseph T. Wells.
Through his dedication and advocacy, Mr. Wells has contributed more to the study of occupational fraud than any person
in the field. In his honor, Dr. Gil Geis, former president of ACFE, originally named this study The Wells Report.

The Wells Report is available to the general public, organizations, practitioners, academicians and the media. By better edu-
cating the public and professionals about the threat of fraud, we can more effectively make inroads towards combating it.

James D. Ratley, CFE
President
Association of Certified Fraud Examiners

ACFE Report to the Nation on Occupational Fraud & Abuse