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.

About the Author

Sean Kilcarr

Editor in Chief

Sean Kilcarr is a former longtime FleetOwner senior editor who wrote for the publication from 2000 to 2018. He served as editor-in-chief from 2017 to 2018.

 

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