Page 152 - ACFE Fraud Reports 2009_2020

Limiting Fraud Losses

Healthcare Retail
Both hotlines and fraud training were utilized by over 50% Generally speaking, retail industries tended to have fewer
of the healthcare organizations in our study. These figures anti-fraud measures than other organizations. The most
were relatively high compared to other industries. commonly cited controls — internal audit departments
and external audits — were each present in only a little
Healthcare — 89 Cases more than half of the retail organizations from our survey.
Control Cases % Fraud training, however, was more common in the retail
industry than in most others.
External Audit 58 65.2%
Internal Audit 45 50.6% Retail — 75 Cases
Fraud Training 45 50.6%
Control Cases %
Surprise Audits 44 49.4%
External Audit 41 54.7%
Hotline 19 21.3%
Internal Audit 41 54.7%
Fraud Training 40 53.3%
Insurance Surprise Audits 36 48.0%
Overall, insurance organizations scored well in terms of Hotline 24 32.0%
having established anti-fraud measures in place. Nearly
70% of the organizations in the insurance industry con-
ducted fraud training for their employees and managers Education
— a higher rate than for any other industry we tested. Over 80% of education organizations had external audits,
Insurance organizations were also more likely to have ho- and two-thirds of these organizations had internal audit
tlines than organizations from any other industry. Finally, departments. Perhaps the most interesting information in
we found that internal audit departments and external au- the following table is the fact that less than a third of edu-
dits were both present in 80% of the insurance companies cation organizations utilized fraud training. One would
in our study. have hoped educational organizations would have seen
more benefit to educating their employees about fraud.
Insurance — 78 Cases
Control Cases % Education — 73 Cases
External Audit 62 79.5% Control Cases %
Internal Audit 62 79.5% External Audit 61 83.6%
Fraud Training 55 70.5% Internal Audit 49 67.1%
Surprise Audits 54 69.2% Fraud Training 29 39.7%
Hotline 32 41.0% Surprise Audits 22 30.1%
Hotline 21 28.8%

0 ACFE Report to the Nation on Occupational Fraud & Abuse