Page 6 - ACFE Fraud Reports 2009_2020

Report to the Nation

The Association of Certified Fraud Examiners published in 1996 an extensive report on the
status of fraud and white-collar crime in the U.S. It is called the Report to the Nation on
Occupational Fraud and Abuse, and it is the largest known privately-funded study on this
subject.

Table of Contents:
• Section 1 (President's Letter)
• Section 2 (Executive Summary)
• Section 3 (Introduction)
• Section 4 (The Cost of Fraud)
• Section 5 (The Perpetrators)
• Section 6 (The Victims)
• Section 7 (The Methods)
• Section 8 (Conclusions)
• Section 9 (Minimizing the Costs of Occupational Fraud and Abuse)

Report to the Nation: Section 1 (President's Letter)

Occupational fraud and abuse is a serious problem in the United States.

The Association of Certified Fraud Examiners' Report to the Nation on Occupational Fraud and
Abuse represents the largest known privately-funded study on this subject. A total of 2,608
Certified Fraud Examiners contributed details of actual fraud and abuse cases totaling $15
billion. From this data, the Report analyzes four areas: the cost of occupational fraud and abuse,
the victims, the perpetrators, and the methodologies.

The Association of Certified Fraud Examiners' Report to the Nation on Occupational Fraud and
Abuse is the product of thousands of hours of research by hundreds of people. Dr. Sandra Welch
of the University of Texas at San Antonio and Drs. Sarah A. Reed and Robert H. Strawser of
Texas A&M University aided significantly in collecting and analyzing the data. But the report's
genesis belongs to the Association's founder and Chairman, Joseph T. Wells, CFE, CPA. In his
honor, I also am naming this study the Wells Report.

For practitioners, academics, journalists, and citizens interested in the detection and deterrence of
occupational fraud, the Wells Report offers a wealth of information.

Gil Geis, PhD, CFE
President
Association of Certified Fraud Examiners