Page 416 - ACFE Fraud Reports 2009_2020

Of the three primary categories of occupational fraud, asset misappropriation is by far the most common, occur-
ring in more than 85% of cases analyzed for this Report; however, it is also typically the least costly of the three
types, causing a median loss of $130,000. In contrast, financial statement fraud occurs much less frequently, ac-
counting for 9% of the cases in our latest survey, but it causes the greatest financial impact of the three categories
by far, with a median loss of $1 million. Corruption tends to fall in the middle in terms of both frequency
and median loss.

Figure 4: Occupational Frauds by Category — Frequency

85.4%
Asset Misappropriation 86.7%
86.3%
TYPE OF FRAUD Corruption 32.8% 36.8%
33.4%

9.0%
Financial Statement Fraud 7.6% 2014
2012
4.8%
2010
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
PERCENT OF CASES

Figure 5: Occupational Frauds by Category — Median Loss

$130,000
Asset Misappropriation $120,000
$135,000
TYPE OF FRAUD Corruption $200,000

$250,000
$250,000

$1,000,000 2014
Financial Statement Fraud $1,000,000 2012
$4,100,000
2010
$0 $2,000,000 $4,000,000 $6,000,000
MEDIAN LOSS

12 REPORT TO THE NATIONS ON OCCUPATIONAL FRAUD AND ABUSE