Association of Certified Fraud Examiners "Fraud Examiners Manual"
ACFE Inc. | ISBN: 1-889277-11-8 | 1005 Pages | PDF | 19.7 Mb
The truth of that prophetic prediction has been borne out in the events of the last years. According to estimates by the Association of Certified Fraud Examiners, occupational fraud and abuse in the United States alone may exceed six hundred billion dollars annually. If we add together the various confidence schemes, check and credit card frauds and securities swindles, the total may run as much as ten percent of global economic output — trillions of dollars world-wide. Enron, WorldCom, Adelphia, and the rest of a rogue’s gallery — as devastating as these frauds were — are only a microcosm of the problem.
One difficult aspect of fraud and white-collar crime is that it is hidden — we only know about the ones that surface. Whatever the true cost of this problem, it is a staggering social and economic sum. But there is hope.