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WILLIAM DESY Investigative Consultant
Fraud Info


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Is Fraud and abuse among your employees on the rise?

The average organization loses more than $9 a day per employee to fraud and abuse, according to a study conducted by the Association of Certified Fraud Examiners (ACFE). Among the study's other findings:

* The average organization loses approximately 6 percent of its total annual revenue to fraud and abuse committed by its own employees.

* Fraud and abuse costs U.S. organizations more than $400 billion annually.

* Small businesses are the most vulnerable.

The ACFE is an international, 25,000-member, professional organization dedicated to fighting fraud and white-collar crime. The organization states that its Report to the Nation on Occupational Fraud and Abuse is the largest known privately-funded study on this subject.

Fraud, Theft and Misconduct:
The ACFE's report looked at the victims and perpetrators of occupational fraud and abuse and made the following discoveries:

* The most costly abuses occurred in organizations with less than 100 employees.

* The typical perpetrator was a college-educated white male.

* Men committed nearly 75 percent of the offenses.

* Men caused four times more losses ($185,000 avg.) than women ($48,000 avg.)

* Managers and executives caused 16 times more losses than non-managerial employees (Owner/executives averaged $1 million, managers $250,000 and non-managerial employees $60,000)

* Employees age 60 and older caused 28 times more losses ($346,000 avg.) than those 25 or younger($12,000) * The education industry experienced the lowest median losses.

* The highest median losses occurred in the real estate financing sector.

Wiliam Desy is an Active Member of the Association of Certified Fraud Examiners.

William Desy, Investigative Consultant
California PI# 21035