Occupational Fraud 2022: A Report to the Nations – Are you doing enough to combat fraud?

Description

Abstract: Occupational fraud — that is, fraud committed by employees — is a significant problem for all businesses. According to the Association of Certified Fraud Examiners (ACFE), organizations lose 5% of their revenue to fraud every year, and manufacturing is among the most frequently hit industries. The ACFE’s Occupational Fraud 2022: A Report to the Nations is based on data supplied by certified fraud examiners around the world. This article reviews the report’s findings and provides suggestions for ways manufacturers can implement antifraud controls. A brief sidebar reviews the importance of recognizing certain employee behaviors that can be a red flag for fraud.