Page 150 - ACFE Fraud Reports 2009_2020

Limiting Fraud Losses

Fraud Awareness/Ethics Training Median Loss Based on Whether Organization
Among the victim organizations in this Report, 45.9% had Fraud Awareness or Ethics Training
employed a fraud awareness or ethics training program for
their managers and employees. The goal of such training
is to make staff aware of how fraud is committed and to No $200,000
emphasize the importance of being watchful and reporting
fraudulent conduct when it is observed or suspected. Fraud Training

The median loss in organizations with fraud training in our Yes $100,000
study was $100,000 — half that of the loss for those orga-
nizations with no training. These organizations also expe- $0 $50,000 $100,000 $150,000 $200,000
rienced fraud schemes of a significantly shorter length. Median Loss

Median Number of Months to Detection Based on Whether
Organization had Fraud Awareness or Ethics Trainings

Fraud Training Yes 15 24
No

0 5 10 15 20 25
Months to Detection

ACFE Report to the Nation on Occupational Fraud & Abuse