In June 2020, the ACFE undertook the first of a series of surveys designed to gauge the pandemic’s effect on global business operations and “to provide an understanding of the evolution of fraud in the wake of the coronavirus.”
Seventy seven percent of those responding to ACFE’s most recent survey reported an increase in the overall level of fraud. Ninety two percent of the respondents expect to see a future increase, with half of those characterizing this increase as “significant”.
Specific types of fraud were spotlighted: cyberfraud, unemployment fraud, payment fraud, and fraud by vendors and sellers. The current COVID environment has and is expected to hamper organizations’ abilities to prevent, detect and investigate fraud.
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