Page 130 - ACFE Fraud Reports 2009_2020

Victims of Occupational Fraud & Abuse

Our survey was targeted to CFEs in the United States and was not designed

to measure the frequency of fraud in various industries or types of organiza-
tions. Therefore, the data below is not intended and should not be read as
indicating whether certain types of organizations are more susceptible to

fraud than others.

To a large extent, the data in this Report is based on the
types of organizations that retain Certified Fraud Exam- Occupational Frauds Based On Industry
iners. Nevertheless, it is instructional to know what types – Sorted By Frequency
of victim organizations are represented in this Report so Industry # % Med.
that we can measure differences in how various types of Cases Cases Loss
organizations encountered and responded to fraud. Banking/Financial 148 14.3% $258,000
Services
Industries Affected in the Study Government and 119 11.5% $82,000
Public Administration
The frauds in our study were spread over a wide range of Manufacturing 101 9.7% $413,000
industries, as illustrated by the accompanying table. The
most common were banking and financial services (148 Health Care 89 8.6% $160,000
cases); government and public administration (119 cases) Insurance 78 7.5% $100,000
and manufacturing (101 cases). Retail 75 7.2 $80,000
Education 73 7.0% $100,000
Service (general) 60 5.8% $163,000
Service (professional, 58 5.6% $300,000
scientific or technical)
Construction 35 3.4% $500,000
Utilities 34 3.3% $124,000
Oil and Gas 32 3.1% $154,000
Real Estate 30 2.9% $200,000
Wholesale Trade 30 2.9% $1,000,000
Transportation and 27 2.6% $109,000
Warehousing
Arts, Entertainment 22 2.1% $175,000
and Recreation
The frauds in our Communications/ 16 1.5% $225,000
study were spread Publishing
over a wide range Agriculture, Forestry, 8 0.8% $71,000
of industries. Fishing and Hunting
Mining 1 0.1% $17,000,000

18 ACFE Report to the Nation on Occupational Fraud & Abuse