Page 204 - ACFE Fraud Reports 2009_2020

4 Victim organizations

Industry

in addition to categorizing fraud victims by organization type, we also classified them based on the industries
in which they operate. again, this analysis does not necessarily indicate which industries are more or less
likely to be victimized by fraud; it is more a representation of the companies that hired certified Fraud ex-
aminers over the last two years to investigate an internal fraud case. However, the findings in the tables below
highlight some interesting differences among the types and severity of fraud cases experienced by companies
in different industries. For example, of the 905 cases in which information about the victim’s industry was
provided, the greatest percentage (15%) occurred in the banking and financial services sector. on the op-
posite end of the spectrum, the agriculture, forestry, fishing, and hunting industry was cited in only 1.4%
of cases, but experienced the second greatest median loss at $450,000. The telecommunications industry
endured the largest losses, with a median of $800,000 for the 16 cases reported from that sector.

Industry of Victim Organizations Industry of Victim Organizations
(Sorted by Frequency) (Sorted by Median Loss)
# of % of Median # of % of Median
Industry Industry
Cases Cases Loss Cases Cases Loss
Banking / Financial Services 132 14.6% $250,000 Telecommunications 16 1.8% $800,000
Government and Public 106 11.7% $93,000 Agriculture, Forestry, Fishing 13 1.4% $450,000
Administration and Hunting
Healthcare 76 8.4% $150,000 Manufacturing 65 7.2% $441,000
Manufacturing 65 7.2% $441,000 Technology 28 3.1% $405,000
Retail 63 7.0% $153,000 Construction 42 4.6% $330,000
Education 59 6.5% $58,000 Arts, Entertainment, and 16 1.8% $270,000
Insurance 51 5.6% $216,000 Recreation
Banking / Financial Services 132 14.6% $250,000
Construction 42 4.6% $330,000
Transportation and Warehousing 31 3.4% $250,000
Religious, Charitable, or Social 39 4.3% $106,000
Services Oil and Gas 17 1.9% $250,000
Services — Other 35 3.9% $100,000 Insurance 51 5.6% $216,000
Services — Professional 34 3.8% $180,000 Real Estate 29 3.2% $184,000
Transportation and Warehousing 31 3.4% $250,000 Services — Professional 34 3.8% $180,000
Real Estate 29 3.2% $184,000 Retail 63 7.0% $153,000
Technology 28 3.1% $405,000 Healthcare 76 8.4% $150,000
Utilities 22 2.4% $90,000 Wholesale Trade 17 1.9% $150,000
Oil and Gas 17 1.9% $250,000 Communications / Publishing 14 1.5% $150,000
Wholesale Trade 17 1.9% $150,000 Religious, Charitable, or Social 39 4.3% $106,000
Services
Arts, Entertainment, and 16 1.8% $270,000
Recreation Services — Other 35 3.9% $100,000
Telecommunications 16 1.8% $800,000 Government and Public 106 11.7% $93,000
Administration
Communications / Publishing 14 1.5% $150,000
Utilities 22 2.4% $90,000
Agriculture, Forestry, Fishing 13 1.4% $450,000
and Hunting Education 59 6.5% $58,000

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