The CFE (Certified Fraud Examiners) supplied data from 1,483 frauds committed in more than 100 countries in a recent 2014 report.

The report identifies Proactive Data Monitoring/Analysis as the most effective fraud control to detect fraud.

The table below makes interesting reading and compares the median loss and median duration of fraud schemes based on whether the victim had particular controls in place.  Every control was associated with reductions in the cost and duration of a fraud.

Median Loss Based on Presence of Anti-Fraud Controls

It is an unfortunate fact that fraud is spreading and effecting most businesses and it is important that your business is protected.

What questions do you have?

We are happy to help. Please post your comment below or call Paul Leonard, Partner at Cooney Carey, on 01 677 9000. Alternatively, send him an email: pleonard@cooneycarey.ie

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