Page 639 - ACFE Fraud Reports 2009_2020
P. 639

FIG. 67  What anti-fraud controls are the most common in     FIG. 69  Cases by country in Latin
               Latin America and the Caribbean?                             America and the Caribbean

                               Control              Percent of cases                Country        Number of cases
                Internal audit department               89%                 Antigua and Barbuda          1
                External audit of financial statements  86%                 Argentina                    8
                Code of conduct                         81%                 Bahamas                      3
                Management certification of financial statements  73%       Belize                       1
                Management review                       71%                 Brazil                      22
                External audit of internal controls over financial reporting  70%   Chile                8
                Hotline                                 68%                 Colombia                    10
                Independent audit committee             61%                 Costa Rica                   1
                Employee support programs               51%                 Curaçao                      2
                Anti-fraud policy                       50%                 Grenada                      1
                Fraud training for employees            50%                 Haiti                        1
                Fraud training for managers/executives  48%                 Honduras                     1
                Dedicated fraud department, function, or team  44%          Jamaica                      6
                Formal fraud risk assessments           40%                 Mexico                      29
                Surprise audits                         35%                 Nicaragua                    3
                Proactive data monitoring/analysis      32%                 Peru                         5
                Job rotation/mandatory vacation         26%                 Saint Kitts and Nevis        1
                Rewards for whistleblowers                6%                Trinidad and Tobago          7
                                                                            Total cases:               110

               FIG. 68  How does the perpetrator’s level of authority
               relate to occupational fraud in Latin America and the
               Caribbean?                                                   MEDIAN LOSS:
                                                                            usd 193,000
                        40%             40%




                PERCENT OF C A SES                       19%              �
                                                                                             �
                                                                                             5%
                                                                                             �
                                                                                             �
                                                                                             �
                                                                                             OF ALL CASES
                                                                                 110




                      Employee         Manager      Owner/executive              CASES



                      $100,000
                                       $150,000
                MEDIAN L OSS










                                                       $900,000


                                                                                    Latin  America and  the Caribbean  Report to the Nations  63
   634   635   636   637   638   639   640   641   642   643   644