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▋STATISTICS: INCIDENCES OF FRAUD. According to the ACFE (‘Association of Certified Fraud Examiners’) ‘Report on the Nations: 2020 Global Study on Occupational Fraud & Abuse: Sub-Saharan Africa Edition’ the most common fraud schemes in general are as follows:
Corruption 56%; Billing 19%; Non Cash 18%; Cash On Hand 14%; Skimming 13%; Expense Reimbursement 11%; Cash Larceny 11%; Financial Statement Fraud 11%; Cheque & Payment Tampering 8%; Register Disbursement 3%.
▋STATISTICS: GOVERNMENT FRAUD.
Corruption 51%; Billing 19%; Non Cash 18%; Billing 18%; Expense Reimbursement 14%; Payroll 14%; Cash On Hand 9%; Skimming 9%; Financial Statement Fraud 7%; Cheque & Payment Tampering 5%; Cash Larceny 5%; Register Disbursement <1%.
Corruption 51%; Billing 19%; Non Cash 18%; Billing 18%; Expense Reimbursement 14%; Payroll 14%; Cash On Hand 9%; Skimming 9%; Financial Statement Fraud 7%; Cheque & Payment Tampering 5%; Cash Larceny 5%; Register Disbursement <1%.
▋BEHAVIOURAL RED FLAGS. According to the ACFE 85% of all fraudsters have displayed at least one of the behavioural red flags (key warning signs) below while committing their crimes:
- Living beyond means 42%
- Financial difficulties 26%
- Unusually close association with vendor, customer 19%
- Control issues, unwillingness to share duties 15%
- Irritability, suspiciousness or defensiveness 13%
- ‘Wheeler-dealer’ attitude 13%
- Divorce, family problems 12%.
- Living beyond means 42%
- Financial difficulties 26%
- Unusually close association with vendor, customer 19%
- Control issues, unwillingness to share duties 15%
- Irritability, suspiciousness or defensiveness 13%
- ‘Wheeler-dealer’ attitude 13%
- Divorce, family problems 12%.
▋JOB PERFORMANCE AS A WARNING SIGN.
- Poor Performance Evaluation 13%
- Excessive absenteeism 13%
- Fear of job loss 12%
- Excessive tardiness 12%
- Denied raise or promotion 10%
Etc.
- Poor Performance Evaluation 13%
- Excessive absenteeism 13%
- Fear of job loss 12%
- Excessive tardiness 12%
- Denied raise or promotion 10%
Etc.
▋HOW FRAUD IS CONCEALED.
- Created fraudulent physical documents 40%;
- Altered physical documents 36%;
- Altered electronic documents or files 27%;
- Created fraudulent documents or files 26%.
- Created fraudulent physical documents 40%;
- Altered physical documents 36%;
- Altered electronic documents or files 27%;
- Created fraudulent documents or files 26%.
Acknowledgments
ACFE (2020) ‘Report On The Nations: 2020 Global Study On Occupational Fraud & Abuse’. Online https://www.acfe.com/report-to-the-nations/2020/
[Download full Report in pdf. 13MB).
ACFE (2020) ‘Report On The Nations: 2020 Global Study On Occupational Fraud & Abuse’. Online https://www.acfe.com/report-to-the-nations/2020/
[Download full Report in pdf. 13MB).
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