Page 458 - ACFE Fraud Reports 2009_2020

Perpetrator’s Education Level
As shown in Figure 65, perpetrators with a university degree caused median losses that were twice as high as those
with only some university education, and two-and-a-half times higher than those with high school degrees or less.
We believe that education is a secondary factor in predicting loss. High-level staff members tend to be more highly
educated, and it is their authority within their organizations, not their degrees, that probably explains why their
schemes tend to cost more. For example, 66% of owner/executive-fraudsters in our study had either a university
degree or a postgraduate degree. Among managers that number was 51%, and among employees the rate dropped
to 26%. However, it’s also possible that more highly educated fraudsters possess greater technical knowledge and
skills that help them be more successful in their fraud schemes.

Figure 65: Education Level of Perpetrator — Median Loss

$210,000
Postgraduate Degree $200,000 $300,000
EDUCATION LEVEL OF PERPETRATOR High School Graduate or Less $75,000 $101,000 $125,000 $234,000
$300,000
University Degree
$200,000
Some University
$136,000
$82,000
$100,000
2014
$170,000
2012
Other*
$38,000
2010
$0 $100,000 $200,000 $300,000 $400,000
*“Other” category was not included in the 2010 Report. MEDIAN LOSS

54 REPORT TO THE NATIONS ON OCCUPATIONAL FRAUD AND ABUSE