The book Insidious cites the following trends.
Employee fraud is the most rapidly growing type of fraud. Forty-eight percent of survey respondents indicated employee embezzlement was on the rise, chosen over several other fraud categories.
Employee fraud is on the rise. More than half (55.4%) of respondents said the level of fraud has slightly or significantly increased in the previous 12 months compared to the level of fraud they investigated or observed in years prior.
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The pressure is on. About half (49.5 percent) of respondents cited increased financial pressure as the biggest factor contributing to the increase in fraud, compared to increased opportunity (27.1%) and increased rationalization (23.7%).
The internal controls are down. Nearly 60% of in-house fraud examiners reported their companies had experienced layoffs during the past year. Among those who had experienced layoffs, about 35% said their companies had eliminated some controls.
The future looks fraud-filled. Nearly 90% of all respondents said they expect fraud to continue to increase during the next year. The type of fraud they expect to increase most is employee embezzlement.
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