Corporate and government fraud on the rise

Fraud in both the U.S. public and private sector is expected to top $600 billion this year, says a new study by the Assn. of Certified Fraud Examiners. Reported first by The Washington Post, research said it defined fraud in both corporate and government organizations as everything from monetary theft by executives, embezzlement by bookkeepers and the stealing of office supplies. The group estimates

Fraud in both the U.S. public and private sector is expected to top $600 billion this year, says a new study by the Assn. of Certified Fraud Examiners.

Reported first by The Washington Post, research said it defined fraud in both corporate and government organizations as everything from monetary theft by executives, embezzlement by bookkeepers and the stealing of office supplies.

The group estimates that fraud in the U.S. amounts to 6% of the nation's gross domestic product each year, or $4,500 for every employee in the American workforce.

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