In 1988, Dr. Joseph T. Wells founded the ACFE with a stated mission to reduce the incidence of fraud and white-collar crime and to assist members in its detection and deterrence. Not long thereafter, Dr. Wells directed an innovative research study into the costs, schemes, perpetrators and victims of occupational fraud. Thus, the ACFE Report to the Nations on Occupational Fraud and Abuse was born. The first Report, released in 1996, and each of its seven successors have reinforced the original mission of the ACFE by expanding the knowledge and understanding of the ways in which occupational fraud occurs and the financial impact this threat has on organizations around the world. The combined results of our research provide the most comprehensive and authoritative body of research on occupational fraud to date.
The 2014 edition of the Report is based on 1,483 cases of occupational fraud, as reported by the Certified Fraud Examiners (CFEs) who investigated them. The analysis of these cases provides valuable lessons about how fraud is committed, how it is detected and how organizations can reduce their vulnerability to this risk.
On behalf of the ACFE and in honor of its founder, Dr. Wells, I am proud to present the 2014 Report to the Nations on Occupational Fraud and Abuse to all businesses, government agencies, anti-fraud practitioners, academicians, the media and the general public. We hope that the information contained in this Report is of great interest and provides an invaluable tool for those who seek to deter, detect or simply understand the impact of occupational fraud.
James D. Ratley, CFE
President and CEO
Association of Certified Fraud Examiners
Summary of Findings
Conclusions and Recommendations
Letter from the President
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