ACFE report identifies a variety of red flags

Description

Abstract: The Association of Certified Fraud Examiners (ACFE) releases its Report to the Nations on Occupational Fraud and Abuse every other year, and the results are never pretty. For example, in the 2010 version, survey participants estimated that the typical business worldwide loses 5% of its annual revenues to occupational fraud. Fortunately, the report also identifies a variety of red flags to look out for. This article discusses red flags that are common according to a perpetrator’s position and the type of scheme.