The ACFE Study
Although the report’s estimate of overall fraud losses is based on the collective insight of hundreds of antifraud professionals, the true amount of fraud taking place, especially in the business of insurance, cannot really be measured because “Fraud, by its nature, is hidden, and so the true amount of fraud taking place in US businesses at any one time cannot be calculated,” John Warren, General Counsel, ACFE, said in a statement. “Even attempts to measure the amount of fraud that has already been detected will lead to incomplete results.”
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