Prevalence of various types of fraud Fraud Report The three types of workplace fraud Cases reported Median loss Asset misappropriation 1,038 $150,000 Corruption 349 $538,000 Fraudulent statements 120 $2,000,000 Financial statement fraud schemes Percent of cases Concealed liabilities 45% Fictitious revenue 43% Improper asset valuations 40% Improper disclosures 38% Timing differences 28% Corruption schemes Percent of cases Conflicts of interest 62% Bribery 43% Illegal gratuities 30% Extortion 17% Occupational fraud schemes, by industry Median loss Mining $17,000,000 Wholesale trade $1,000,000 Construction $500,000 Manufacturing $413,000 Services $300,000 Banking/financial $258,000 Methods of fraud in small business* Percent of cases Check tampering 29% Skimming 28% Billing 25% Corruption 23% Expense reimbursement 23% Cash larceny 20% *Organizations of fewer than 100 employees Note: Some cases fall under more than one method of classification.Source: Association of Certified Fraud Examiners, 2006 Report to the Nation Related content news Chinese state actors behind espionage attacks on Southeast Asian government The distinct groups of activities formed three different clusters, each attributed to a specific APT group. By Shweta Sharma Sep 25, 2023 4 mins Advanced Persistent Threats Advanced Persistent Threats Cyberattacks feature How to pick the best endpoint detection and response solution EDR software has emerged as one of the preeminent tools in the CISO’s arsenal. Here’s what to look for and what to avoid when choosing EDR software. By Linda Rosencrance Sep 25, 2023 10 mins Intrusion Detection Software Security Monitoring Software Data and Information Security feature Top cybersecurity M&A deals for 2023 Fears of recession, rising interest rates, mass tech layoffs, and conservative spending trends are likely to make dealmakers cautious, but an ever-increasing need to defend against bigger and faster attacks will likely keep M&A activity steady in By CSO Staff Sep 22, 2023 24 mins Mergers and Acquisitions Data and Information Security IT Leadership brandpost Unmasking ransomware threat clusters: Why it matters to defenders Similar patterns of behavior among ransomware treat groups can help security teams better understand and prepare for attacks By Joan Goodchild Sep 21, 2023 3 mins Cybercrime Podcasts Videos Resources Events SUBSCRIBE TO OUR NEWSLETTER From our editors straight to your inbox Get started by entering your email address below. Please enter a valid email address Subscribe