Page 431 - ACFE Fraud Reports 2009_2020

Industry of Organization
Figure 22 categorizes the cases reported to us by industry of the victim organization. Similar to the findings in our
previous Reports, banking and financial services, government and public administration, and manufacturing were
the most represented sectors among the fraud cases analyzed. On the other end of the spectrum, the industries
with the lowest frequency of fraud cases were mining; communications and publishing; and arts, entertainment
and recreation. While this data shows the distribution of cases in our study, it does not necessarily mean that cer-
tain industries are more at risk of fraud than others. Our study focuses on cases investigated by CFEs, so Figure 22
primarily reflects the industries in which CFEs work. The fact that CFEs tend to be hired more in some industries
than others could indicate those industries are at greater risk of fraud, but it could also be a sign that they are
more proactive in dealing with anti-fraud issues.

Figure 22: Industry of Victim Organizations

Banking and Financial Services 17.8%
Government and Public Administration 10.3%
Manufacturing 8.5%
Health Care 7.3%
Education 5.9%
Retail 5.6%
Insurance 4.5%
Other 3.8%
Oil and Gas 3.6%
Transportation and Warehousing 3.5%
Services (Other) 3.3%
Construction 2.9%
3.1%
INDUSTRY Services (Professional) 2.3% 2.7%
Religious, Charitable or Social Services
Technology
2.9%
Telecommunications
2.6%
Wholesale Trade
Agriculture, Forestry, Fishing and Hunting
2.0%
Utilities 1.8%
Real Estate 1.8%
Arts, Entertainment and Recreation 1.6%
Communications and Publishing 1.1%
Mining 1.0%

0% 2% 4% 6% 8% 10% 12% 14% 16% 18% 20%
PERCENT OF CASES

REPORT TO THE NATIONS ON OCCUPATIONAL FRAUD AND ABUSE 27