To Whom It May Concern: Report to the Nations on Occupational FRAUD and Abuse

The Association of Certified Fraud Examiners issued lately their report titled " Report to the Nations on Occupational FRAUD and Abuse". The report is based on data compiled from a study of 1,843 cases of occupational fraud that occurred worldwide between January 2008 and December 2009.

All information was provided by Certified Fraud Examiners (CFEs) who investigated those cases. The fraud cases in the study came from 106 nations - with more than 40% of cases occuring in countries outside the United States- providing a truly global view into the plague of occupational fraud.

The report states that one-fourth of the frauds in the report caused at least $ 1 million in losses.

Though not surprising for the CFEs community, the initial detection of occupational frauds came from the following as per the 2010 Report to the Nations on Occupational FRAUD and Abuse page 16:

Tip: 40.2%

Management Review: 15.4%

Internal Audit: 13.9%

By Accident: 8.3%
Account Reconciliation: 6.1%
Document Examination: 5.2%

External Audit: 4.6%

Surveillance/ Monitoring: 2.6%
Notified by Police: 1.8%
Confession: 1%
IT Controls: 0.8%