Industry Insights on Occupational Fraud: Key Findings from the 2024 ACFE Report to the Nations

The 2024 ACFE Report to the Nations reveals crucial insights into the industries most affected by occupational fraud. Banking and financial services, along with manufacturing, were the most commonly impacted sectors. Notably, industries like mining, wholesale trade, and manufacturing experienced the highest median losses, with mining at $550,000, wholesale trade at $361,000, and manufacturing at $267,000. The report also highlights corruption as the most prevalent fraud scheme across all industries, emphasizing the widespread risk of corruption in various sectors. Industries such as manufacturing and insurance should be particularly vigilant of corruption, theft of noncash assets, and billing schemes, as these fraud risks are especially prominent in their respective fields. By understanding the types of schemes that are most common in their industry, organizations can better tailor their anti-fraud efforts to reduce the risk of significant losses. 

Thank you to the ACFE’s Report to the Nations!