Let's kick off this article with a math 101 exercise to pique your interest in internal fraud. Consider your company revenue during 2018 and then calculate 5% of that figure; this number is the amount you are losing to internal fraud! Here are other disturbing statics: • Estimated loss is $3.5 trillion nationwide (U.S.).
• Average fraud loss is $140,000 per instance.
• More than 20 percent of cases have over $1 million in losses.
• Frauds last approximately 18 months before detection.
• Industries most victimized by internal fraud are banking and financial services. (insurance companies).
• Presence of internal anti-fraud controls shows significant decline in internal