Anti-Fraud Controls
• The presence of anti-fraud controls is associated with lower fraud losses and quicker fraud detection. • Nearly HALF of fraud cases occurred due to lack of internal controls (29% of cases) or override of existing controls (20% of cases).
• Following the discovery of fraud, 81% of victim organizations modified their anti-fraud controls.
Source: 2022 Report to the Nations on Occupational Fraud and Abuse, Association of Certified Fraud Examiners (2022 Report).
11
Occupational Fraud and Abuse
Asset Misappropriation
Financial Statement Fraud
Corruption
Occupational Fraud Classification System
12
Homer Law, Chtd. 2020
6
Made with FlippingBook - Online catalogs